Re:If pay had kept pace with productivity gains, minimum wag...
by dublinben on Friday October 09, 2020 @02:57PM
(#24733168)
>So why would the wages go up if productivity is not up?
The wages in lots of sectors without productivity gains have gone up because they must compete against sectors where productivity has gone up. This is known as Baumol's Cost Disease.[0]
The wages in lots of sectors without productivity gains have gone up because they must compete against sectors where productivity has gone up. This is known as Baumol's Cost Disease.[0]
[0] https://en.wikipedia.org/wiki/Baumol%27s_cost_disease