Dead Wrong with Johan Norberg - Stagnant Middle Class
Johan Norberg makes excellent points that first when benefits are included, real wages have risen, and second it is not the wage, but how much the wage can purchase that matters.
I have written about this often. The wage stagnation issue is a canard which is designed to throw readers off the correct trail. American's are far wealthier today than we were in the 1970s. Much of this has come from the continuous decline in prices since then. It is also due to the decline in energy, and food as a components of daily living. The decline in the price of food has been dramatic, from about 25% of average daily budget at about the turn of the 20th century, to about 6% of the average daily budget today. Essentially, while wages rose only a little, prices collapsed, quality improved, and energy costs plummeted (both the actual cost of energy, and the amount of energy necessary to operate an appliance.
This year we will hear much about wage stagnation, ignore these complaints, they are voiced by either duplicitous agitators, or the uninformed.