I think it's easy to explain why wages have stagnated. The time wages started to stagnate coincides with women's lib, immigration policy changes, and free trade changes. Women's lib dropped an extra 40% more people into the labor pool. Of course that's going to put downward pressure on wages. We changed our legal immigration policy to favor more poor people while simultaneously changing our illegal immigration enforcement policy to keep tons of illegal aliens in the country pushing wages down for the American poor. Trade policy has gutted a huge portion of the country in favor of the already wealthy elites on the coast.

The big economic question of the day should be asking how we've managed to keep wages at only the "stagnation" level rather than precipitously falling in the face of so much downward pressure.