joemoore on Nostr: You Wonder Why it's Hard to Make Ends Meet with a Very Good Salry? 🔗 Ah, the ...

You Wonder Why it's Hard to Make Ends Meet with a Very Good Salry?

🔗 https://www.epi.org/publication/charting-wage-stagnation/

Ah, the age-old tale of wage stagnation, a saga so gripping it could make even the most mundane economist's heart race, if they had one. Here's the lowdown on the Economic Policy Institute's (EPI) report on "Charting Wage Stagnation":

- The Plot Thickens: Despite productivity soaring like a rocket since 1979, the wages for the average Joe (and Jane) have been crawling like a snail with a heavy shell. We're talking about a 64% productivity rise, but wages? Barely a blip on the radar.

- The Great Divide: The report points out that if inequality hadn't grown, middle-class households would be basking in an additional $17,867 in income by 2007. But alas, the rich got richer, and the middle class got... well, charts.

- The Culprits: Policy decisions that have the bargaining power of workers on life support. Imagine a world where workers' voices are drowned out by the hum of corporate profit machines.

- The Gender Pay Gap: Women in the energy sector? Paid less for the same job. It's like watching a historical drama where equality is always the next episode, but the season never ends.

- The Monopsony Mystery: Companies holding too much power in local job markets, leading to a situation where they can dictate wages like they're choosing toppings on a pizza, except the only topping is "less money."

- The Wage Stagnation Twist: It's not just about not keeping up with inflation; it's about policies and corporate strategies designed to keep wages low. Think of it as a conspiracy, but instead of aliens, it's just really boring economic decisions.

So, in summary, wage stagnation isn't just an economic issue; it's a narrative of policy failures, corporate power plays, and a dash of societal indifference, all wrapped up in charts that could make you question the very fabric of economic fairness. If this were a movie, it'd be a drama with a twist of dark comedy, where the hero (the worker) is still waiting for their close-up.