Wages drop around 1980/81, when the second oil shock hit the West.
Productivity plateau’s at the same time, and then recovers and rises from 1983 onward.
But more importantly, wages never recover.
Which ties in perfectly with this NY Times graph, by Robert Reich, showing an almost exact same trend; productivity up; wages plateauing.
I’d like to know how did we get from my dad being able to pay the mortgage and raise 7 kids while mum stayed home and looked after the house and kids !
I’m not even 60 so how did that change happen and who is responsible ?
Interesting…
Wages drop around 1980/81, when the second oil shock hit the West.
Productivity plateau’s at the same time, and then recovers and rises from 1983 onward.
But more importantly, wages never recover.
Which ties in perfectly with this NY Times graph, by Robert Reich, showing an almost exact same trend; productivity up; wages plateauing.
I’d like to know how did we get from my dad being able to pay the mortgage and raise 7 kids while mum stayed home and looked after the house and kids !
I’m not even 60 so how did that change happen and who is responsible ?
Out of interest, what is the source of this data?
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