Career Calling

July 19, 2012

Krugman on Productivity and Earnings.

Filed under: Commentary — claycerny @ 2:17 am
Tags: , , ,

Paul Krugman has posted two very disturbing blogs on wages.  In one, he demonstrates that median earnings for full-time male employees have been flat since the 1970s.  How do people compensate for inflation?  Krugman answers this question with a second graph that shows rising levels of debt from the 1980s-2010.  In his second post, Krugman contrasts a steady growth in productivity over 40 years with a flat line for hourly compensation since the 1970s.  If this graph is accurate, who benefited from the increase in productivity?  It wasn’t hourly workers.

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