Is picrelated true? Is it related to the USA not allowing dollars to be exchanged for gold?

Is picrelated true? Is it related to the USA not allowing dollars to be exchanged for gold?

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en.m.wikipedia.org/wiki/Marginal_revenue_productivity_theory_of_wages
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>it all went to shit when Nixon came to power
Fucking hell.

>Muh wages have stagnated but productivity has gone up! This is unfair!!!
>Meanwhile millions of Chinese people have gotten a job because of the outsourcing.

more people, a lot more, productivity is up but also the amount of fags you have to pay.

>t. blue collar in the global 1% that wants to cuck corporations and get paid more and expects to magically compete with china

no it's because of automation and women and the third world (in form of immigrants and free trade) enter working the workforce resulting in depressed wages. you can't have a one income family and have womyn be wagecucks,

>is it true
Yes

>is it becuz muh conspiracy
No

>yes wageslave be happy that someone not in your country is now a wageslave like you

Economic illiterates.

Wages are supposed to equal productivity (well, wage growth equals productivity growth).

But what has happened is that the bargaining power of the American worker has decreased relative to capital.

Basically since 70s wealth transfered to the top, while rest stagnated at best, or become impoverished at worst.

Good riddance, most of the "stagnated" bunch voted for neo liberal policies, now they should reap what they sow.

welfare spending has increased dramatically

>Wages are supposed to equal productivity

t. Marxist

>Basically since 70s wealth transfered to the top, while rest stagnated at best, or become impoverished at worst.

That's factually incorrect. Wages have risen too, just much more slowly.

As a percent of GDP it is stagnant

...

en.m.wikipedia.org/wiki/Marginal_revenue_productivity_theory_of_wages

>The marginal revenue productivity theory of wages is a theory in neoclassical economics.

The average American is poorer than in 1995.

Cont*

>total federal welfare spending
Does this include SS and Medicare?

Wow, I miss the days when civies would buy 18 tons of steel at below the decades market price because they intend to flip them. But yeah, fuck those evil corporations.

?

Try reading through my post and deriving implications from it.

No.

>Counting median household income of 150k as "upper income"

That's about a quarter of US households. They're the tech and knowledge workers who are responsible for the productivity gains. Its natural that they capture the returns.

>try reading my shitpost

Sadly, I already did.

>2009 dollars

Hmmmmmmmmmm

>>Counting median household income of 150k as "upper income"
? What is your "point" ?

>That's about a quarter of US households. They're the tech and knowledge workers who are responsible for the productivity gains.
At the expense of the rest?

>Its natural that they capture the returns.
>natural

"the rest" suppress their own wages on a race to the bottom as a result of women economic emancipation DOUBLING the workforce and making everyone more expendable. Just as a function of supply and demand, immigrants influence wages in the same pattern

My point is that you can't demonize that quarter of the population with engineering and professional degrees who build the technologies and run the businesses that keeps the economy running.

They are compensated as they are because they have rare skills that greatly improve the productivity of a firm. No one could say that a day laborer possesses the same skill or productive capacity as the engineer who designed the tools he uses or the manager who has figured out how to make his labor profitable.

And by the way, a couple of skilled tradesmen with some experience can also enter into the upper quartile of households, because their trades require expertise that few people posses.

But you can't expect people who are in effect completely disposable and interchangeable to draw high wages.

>doesn't understand inflation adjustment
Go away, you don't belong in this thread.