[Scott Sheriff] “I disagree”
You are correct. Since the Reagan Administration, total jobs has increased, aggregate real wages have decreased (in USA), yet household income has remained the same.
Answering this has proven to be complicated.
Two main answers:
1. Working women
2. the PC.
(1) we know that women are discriminated against on wages, so as more of them have been hired they have been low-balled; moreover, two working family members means household income stayed stagnant.
(2) simple as this: we can do more work, manage more tasks and workers with the PC than ever before. Efficiency is very high.
Are we going to strike?