Addressing the Problem of Stagnant Wages

Frank Levy and Thomas Kochan ()
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Thomas Kochan: Sloan School, Massachusetts Institute of Technology, 100 Main St., Cambridge, MA 02139, USA.

Comparative Economic Studies, 2012, vol. 54, issue 4, 739-764

Abstract: From the mid-1940s through the 1970s, median wages and productivity growth rose in tandem. Since the 1980s productivity continued to grow steadily while wages stagnated. In this paper we document these trends, explore the reasons for these divergent trends, and outline a mix of policy, institutional, and organizational changes needed to restore wage growth and improved living standards for the American workforce.

Date: 2012
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