Friday, July 20, 2012

The Elites Are Unanimous: Lower Everyone's Wages and Standard of Living -- Except They Don't Say it Out Loud | Economy | AlterNet

The Elites Are Unanimous: Lower Everyone's Wages and Standard of Living -- Except They Don't Say it Out Loud | Economy | AlterNet
"All of which leaves the American middle class on a badly listing, although not yet sinking, economic ship. Even before the financial crash, real wages for the typical American worker had been stagnant for 30 years as a result of: 1) trade and investment deregulation that shoved American workers into a brutally competitive global labor market for which they were unprepared; 2) the relentless war on unions that began with the election of Ronald Reagan in 1980; and 3) more recently, the erosion of the social safety net for low wage workers and the unemployed."