Quote:
Originally Posted by Chili_Wango
I believe there is a fallacy in your thinking as well. Every single statistic related to economics is proving your arguements to be false. Wages continue to DROP while productivity and net earnings continue to RISE. There is a huge descrepenacy that you cannot find an explanation for.
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You should be careful making global statements such as "every single statistic", particularly when you are providing zero data or support for your claim. In my field (engineering), wages continue to go up, and as such, so is productivity. I worked my ass off to get into that field for a reason. Those folks with an art history degree may be experiencing a downturn in wages. YMMV. While I cannot speak for every particular wage area in the United States, the 2013 statistics from the Economic Policy Institute (August 2013) indicate, at worst, that the wages have been flat (but that doesn't tell the entire story). That being stated, almost all the data used for these studies is based upon household and/or employer surveys, which are notorious for being at best, correlative data, and are usually (when used for correlations, etc and not higher level statistics) prone to high margins of error. Additionally, the study authors state that they ran regression analyses for the parameters in the study, but do not provide said results, and state only that they did some statistical analysis on publicly available data. But, I digress.
However, if you fall within the bottom 20th percentile of folks used in the above cited study, you have experienced a fall in wages. This can be due to a number of factors, but the data appears to indicate that this may be a result of educational differences. There is also a gender difference. That has been around for a long time, and it doesn't appear to be going anywhere anytime soon.
Not sure what your statistics were, but it would be nice to see them so we can have a real discussion of what you are basing this opinion on.