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But we say wages are "stagnant" when really "wages continue to shrink" would be more accurate.
by jonathantm 9y ago
But we say wages are "stagnant" when really "wages continue to shrink" would be more accurate.
- RugnirViking 9y agoMostly because when inflation ajusted they are in fact stagnant[1] That is to say, all of the profits from technology and automation in the last 40 years or so have gone to the owners of capital. How you interpret this or propose to 'solve' I won't comment on. [1]https://en.wikipedia.org/wiki/Real_wages https://en.wikipedia.org/wiki/Real_wages
- logfromblammo 9y agoIt's closer to 50 years than 40--since about 1970. I'd say it's the capital-owners' problem to solve, since everyone else can still afford to buy/build weapons. They may sometimes forget that the veneer of civilization is paper thin, when their veneer has gold leaf on top of it.