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Re:The worldly turn: A return to economics that studies the ... by WalterBright on Friday January 21, 2022 @05:23PM (#30030743)
> Economists told us for decades that wages are tied to productivity, when all the data points in the exact opposite direction.

That's because the data is based on salary and wages, when the actual number used needs to be "total compensation". Total compensation also includes so-called "employer paid" benefits. It includes other costly mandates required by regulation.

The other problem is productivity increases are very uneven. Productivity for some jobs has gone way up, for others it has not changes. The latter are not going to see compensation increases if their individual productivity did not rise.

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