by George Washington
Wages need to rise to keep up with inflation, especially since the value of the dollar has been trashed:
But Michael Greenstone and Adam Looney of the Hamilton Project document (hat tip Ezra Klein) that real median earnings for men declined between 1969 and 2009:
And wages have only kept dropping since 2009.
In addition – when those who have only part-time work are taken into account – we havedepression-level unemployment.
As Klein notes:
“When you take all men, not just [...]