By the way, Marx literally predicted wages stagnating even as production increases. I’ve also added some other benchmarks to help gauge where earners would stand given how much they currently earn.

25k in 2020-> 57k

35k in 2020-> 80k

45k in 2020-> 103k

50k in 2020-> 108k

75k in 2020-> 172k

100k in 2020-> 229k

  • Posad_al_Assad [any]
    ·
    4 years ago

    Chief neoliberal economist Larry Summers who was the director of Obama's National Economic Council and economic advisor to the Biden campaign tried his best to discredit and diminish these findings. Here is the response to Summers by economists Lawrence Michel and Josh Bivens from EPI noting how Larry's arguments still fail to overturn their findings on the productivity-pay gap.