Corporations Are Stealing Our Economic Gains
Here is why we aren't financially better off than our grandparents
A little while back we explored why life feels so expensive, and so many of us are struggling to get by. One of the reasons for this, it seems, is that wage growth (adjusted for inflation) has been non-existent for the last half-century.
Massive technological progress over the last few decades has made workers more productive, and companies more profitable. Despite this, employee compensation has not risen. The situation is even more bleak when you consider that the price of many assets (housing for example) have risen much faster than inflation. This means that for an average worker a house is now much more expensive than it was 50 years ago.
Over the last month, I have been pondering what could have caused this stagnation in wage growth. Of course, Google knows this has been bugging me, and recommended an interesting Youtube video as an answer to my question.
