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by BobbyJo
190 days ago
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Real wages are effectively unchanged since 1970 [0]. So, either technology hasn't advanced enough to make people more productive, or technology hasn't increased the value of labor. One of the two has to be true. [0] https://www.pewresearch.org/short-reads/2018/08/07/for-most-... Note on the above, be weary of data that starts ~1980 since that was a deeply recessionary period. Lots of information likes to use that period as the origin since it makes it look like real wages have increased. During 1970 to 1980 there was a steep decline in real wages. |
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