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No one really know for certain what the drivers of the trend are. Interestingly, on a global level inequality has dropped like a rock -- capital is doing very well and low-wage labor (on the global level, not the American) is doing even better, but high-wage labor (which on the global level pretty much means all of us in the states) has gotten walloped. Again, I could be wrong and it's very hard to impossible to really figure out what is going on definitively, but it seems to me what we're seeing is more and more capital being allocated to (global-scale) low wage workers, giving them and the capital holders higher return and leaving us working for a living in the first world with both less bargaining power and less capital stock to work with.
Keep fighting for "Right to Work (for less)" and more tax breaks for the wealthy! How is that working out? Causes of Wage Stagnation
-Abandonment of full employment.
-Declining unions.
-Policies that have allowed CEOs and finance executives to capture ever larger shares of economic growth, and globalization policies. Causes of Wage Stagnation | Economic Policy Institute
Wow! How SHOCKING!! A leftie think tank blames declining union membership and greedy CEOs!
God forbid we blame illegal aliens who pushed African Americans and whites alike out of decent paying jobs! I mean seriously, who would have thought that letting 15,000,000 to 18,000,000 low skilled workers would have had an impact on the job market?
And don't blame unions because their wages and benefits drove companies to uncompetitive prices.
Let's also not discuss the good union jobs lost because we closed mines and plants to satisfy the Greens.
Sure CEOs come in for their share of the blame, but not because they made too much money compared to their workers, but because they had to get their compensation through stock price because Congress changed how they got paid. They also sign bad union deals and kicked the football down the road to let someone else worry about $90 an hour in wages and benefits.
Wow! How SHOCKING!! A leftie think tank blames declining union membership and greedy CEOs!
God forbid we blame illegal aliens who pushed African Americans and whites alike out of decent paying jobs! I mean seriously, who would have thought that letting 15,000,000 to 18,000,000 low skilled workers would have had an impact on the job market?
And don't blame unions because their wages and benefits drove companies to uncompetitive prices.
Let's also not discuss the good union jobs lost because we closed mines and plants to satisfy the Greens.
Sure CEOs come in for their share of the blame, but not because they made too much money compared to their workers, but because they had to get their compensation through stock price because Congress changed how they got paid. They also sign bad union deals and kicked the football down the road to let someone else worry about $90 an hour in wages and benefits.
Have you been instructed to believe that any entity that is pro-middle class, is a bad leftie?
Quote:
About EPI. The Economic Policy Institute (EPI) is a nonprofit, nonpartisan think tank created in 1986 to include the needs of low- and middle-income workers in economic policy discussions.
No one really know for certain what the drivers of the trend are. Interestingly, on a global level inequality has dropped like a rock -- capital is doing very well and low-wage labor (on the global level, not the American) is doing even better, but high-wage labor (which on the global level pretty much means all of us in the states) has gotten walloped. Again, I could be wrong and it's very hard to impossible to really figure out what is going on definitively, but it seems to me what we're seeing is more and more capital being allocated to (global-scale) low wage workers, giving them and the capital holders higher return and leaving us working for a living in the first world with both less bargaining power and less capital stock to work with.
Very well said.
One fix is to require that people making stuff to be made in the US get paid US minimum wage or higher. Then we can crank our minimum wage to a reasonable level without leading to excessive outsourcing.
Well with the rising dollar we just got a raise. but then for those who get subsidized healthcare when the Average cost of employer contribution was 13K per tear in 2012;they got a raise also. For years unions have been dying out and the higher paying job not union represented. More and more government is becoming the middleman and gets to decide what raise is spent on.
Or maybe all those millions of jobs liberals said Americans "just won't do" were filled by illegals - who are the new middle class.
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