Paying for Productivity

One of the US economy's defining – and disheartening – trends over the last 40 years has been real-wage stagnation for most workers. America’s long-run living standards and economic competitiveness depend not just on productivity growth, but also on how that growth is shared.

BERKELEY – One of the United States’ defining – and disheartening – economic trends over the last 40 years has been real-wage stagnation for most workers. According to a recent US Census report, the median full-time male worker earned $50,033 in 2013, barely distinguishable from the comparable (inflation-adjusted) figure of $49,678 in 1973.

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