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 Announcements00:01:01  Retcon: Double Taxation and Make Billionaires Pay Their Fair Share Act00:03:10 Terms & Conditions: Monopsony, Septel00:07:07  Big Pilcrow: Why Aren’t Wages Growing?00:40:37  Executive Orders: Reverse Billing, Leaked Chat Table Readings00:42:49  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