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-- Robert Fireovid 122 Station Road South Hero, VT 05486 (c:) 802-233-0064
Robert,
There are many studies that arrive, more or less, at the same conclusion as Prof. Wolff. Real wages, in general, had a secular upward trend in the US until 1979. Wages for the lower and middle class have stagnated since then.The productivity
increased at a rapid rate but wages did not for the simple reason that the required level of production could be achieved with fewrer labourers. This is the same as having excess labour which is often reflected in excess unemployment. This trend has continued
since the late seventies and has been helped by lack of unionization, undocumented immigrants and trade.