The answer may surprise you. Many economists, politicians and pundits assert that median wages have stagnated since the 1970s. That's a call for government to do something about it. But before we look at the error in their assertion, let's work through an example that might shed a bit of light on the issue. Suppose that you paid me a straight $20 ... MOREWalter E Williams: Is There Wage Stagnation?
The answer may surprise you. Many economists, politicians and pundits assert that median wages have stagnated since the 1970s. That's a call for government to do something about it. But before we look at the error in their assertion, let's work through an example that might shed a bit of light on the issue. Suppose that you paid me a straight $20 ... MORE