The Great Wage Stagnation
Average U.S. wages have barely budged since the early '80s — and if you account for today's labor force being older and more college-educated, wage growth basically disappears. Economists have cycled through explanations: workers lacked technical skills, then couldn't compete with global labor, then lost the policies that once lifted paychecks, like strong unions and a meaningful minimum wage. The latest chapter is monopsony — the idea that as employers consolidate, people have fewer choices of where to work, and fewer places to land if they lose a job. Fix the market, and the paychecks follow.
Chapters:
00:00:45 Announcements
00:01:01 Retcon: Double Taxation and Make Billionaires Pay Their Fair Share Act
00:03:10 Terms & Conditions: Monopsony, Septel
00:07:07 Big Pilcrow: Why Aren’t Wages Growing?
00:40:37 Executive Orders: Reverse Billing, Leaked Chat Table Readings
00:42:49 Spiritual Sponsors: Dole Whip, Sad Songs, Being Recognized in the Wild
- Donate to Optimist Economy: https://optimisteconomy.com
- Follow us on Instagram at @optimist_economy or TikTok at @optimist_economy. Chat with other Optimists on Substack.
- Andy says look at the Optimist Economy YouTube channel.
- Get that excellent hat at: https://merch.ambientinks.com/collections/optimisteconomy
- Got economic anxieties, executive orders or spiritual sponsors? Send them to optimist.economy@gmail.com
More description
Average U.S. wages have barely budged since the early '80s — and if you account for today's labor force being older and more college-educated, wage growth basically disappears. Economists have cycled through explanations: workers lacked technical skills, then couldn't compete with global labor, then lost the policies that once lifted paychecks, like strong unions and a meaningful minimum wage. The latest chapter is monopsony — the idea that as employers consolidate, people have fewer choices of where to work, and fewer places to land if they lose a job. Fix the market, and the paychecks follow.
Chapters:
00:00:45 Announcements
00:01:01 Retcon: Double Taxation and Make Billionaires Pay Their Fair Share Act
00:03:10 Terms & Conditions: Monopsony, Septel
00:07:07 Big Pilcrow: Why Aren’t Wages Growing?
00:40:37 Executive Orders: Reverse Billing, Leaked Chat Table Readings
00:42:49 Spiritual Sponsors: Dole Whip, Sad Songs, Being Recognized in the Wild
- Donate to Optimist Economy: https://optimisteconomy.com
- Follow us on Instagram at @optimist_economy or TikTok at @optimist_economy. Chat with other Optimists on Substack.
- Andy says look at the Optimist Economy YouTube channel.
- Get that excellent hat at: https://merch.ambientinks.com/collections/optimisteconomy
- Got economic anxieties, executive orders or spiritual sponsors? Send them to optimist.economy@gmail.com
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