Like clockwork, the New York Times has produced another page-one story purporting to show that living standards for many Americans have fallen, this time because wages in recent years have failed to keep up with inflation. This has been happening, write Times reporters Steven Greenhouse and David Leonhardt, despite rising productivity and even taking into account the shift from cash to noncash benefits, such as medical insurance. Meanwhile, profits are up.Read the rest of this week's TGIF column here.
In other words, workers aren't getting their fair share of economic growth.
Cross-posted at Liberty & Power.