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I was recently sitting down with an old acquaintance, and the conversation turned to his job. He works in construction, and was frustrated with the fact that during the last economic downturn wages went down, but despite the recent uptick they hadn’t risen.
This problem of cost disease is endemic throughout the West. The volume on your soda bottle goes down, but the price remains the same. You take on more responsibilities at work, but you continue to make the same wage. New technologies...
Published on July 02, 2017 08:04