Median wages tracked productivity until 1973, then stopped. Productivity kept growing, but wages remained stagnant.
This is called “wage decoupling”. Sometimes people talk about wages decoupling from GDP, or from GDP per capita, but it all works out pretty much the same way. Increasing growth no longer produces increasing wages for ordinary workers.
Is this true? If so, why?
Locally, Madison’s taxpayer supported K-12 school district spends far more than most, now around $20,000 per student.