Every decade, technology makes us dramatically more productive. Every decade, GDP growth slows. These two facts should not coexist — and understanding why they do reveals the defining economic tension of our era.
Now compare wages vs inflation, and wages vs GDP. GDP of developed countries has climbed dramatically since the 80’s, while wage growth has slowed to a crawl relatively.
One must ask themself: where did all the money go?
All of this is fairly obvious to someone not wearing a MAGA hat.
Productivity per person has increased since the 80’s, but wages have not followed - rather they have remained largely stagnant.
As such, the increased profits are instead going into an increasingly small amount of very rich people’s pockets
Wages have increased a huge amount from the 1980s
Now compare wages vs inflation, and wages vs GDP. GDP of developed countries has climbed dramatically since the 80’s, while wage growth has slowed to a crawl relatively.
One must ask themself: where did all the money go?
I already compared wages vs. inflation
There’s literally four inflation measures in this graph. Did the image load for you?
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