The Fourth Turning Is Here

[Aaron]

For right or wrong, wages have stagnated due to women entering the workforce. Over the last 60 years the supply of labour has almost doubled.... Simple supply/demand dynamics at play.

As much as I should not discuss things I know little about. Wouldn't globalisation and shifting higher paying manufacturing jobs to the countries with the cheapest labour also have made a difference over the last few decades. You are not only competing with women but also the third world who will accept much lower pay and conditions.

I think the western world seemed quite surprised at the start of the pandemic when they realised they don't make much at home anymore and were not as resilient as they might have thought.

With remote working even white collar jobs should have increased competition from the third world.

I hope I don't sound greedy or envious or unaspirational but I think the top executives in the US have seen their remuneration keep up with inflation according to Moka's links.

Good informative post thanks Moka.

More importantly is NZ following this US trend? I know David Seymour has concerns that so few people pay so much tax so I suspect we might be following a similar path.