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Economists ‘Can’t Understand’ Why Workers Can’t Get Paid More in a ‘Booming’ Economy

Mystery of the underpaid American worker

If economists sincerely wanted to know the answer to the “mystery” of why wages aren’t rising as companies earn record profits, they would talk to some workers, and they should look at the history of repression of the trade union movement, which began with Richard Nixon’s assumption of the presidency in 1968, accelerated under the two terms of Ronald Reagan, and continued under the Clinton, Bush Sr., Bush Jr. and Obama presidencies, and now the Trump presidency.

The only real mystery is why the economics profession in the US, and the financial journalism field, are so blind to the answer.



story | by Dr. Radut