One-Page Economics-Wage Growth Analysis

Important Axioms Related Materials

1. There are Few High Paying Jobs.
"...the idea that you can just have better training and then there
      are all these jobs, all these places where there are shortages and we just need the trained people is
      fundamentally an evasion."  " The core problem is that there aren't enough jobs. If you help some people,
      you could help them get the jobs, but then someone else won't get the jobs. "

     Lawrence Summers
, The Future of Work (2015)

Solving the Lack Of Good Jobs

2. The large rapidly growing service economy has mostly low and high paying jobs.
A. Low paying service jobs are expanding much more in absolute terms.
     B. High paying service jobs are few in number and require well ambitious usually well educated people.
World Changed and Good Jobs Disappeared
3.  US Underground Economy which lowers market income has been reinforced by Social Media by
       A. making it much easier to trade services
       B. find under the table jobs
Underground Economy is Difficult to Measure
and small but increasing growth would substantially undercut market wage growth.
4. Prejudice for by influential people has resulted in substantial negative unintended consequences.
   A. Educators have incorrectly implied for 50 years that more academic education for an increasing
       percentage portion of our working population would provide a high economic return.
   B. Voters concerned with God and Gun issues have  made an unlikely made an alliance with Greed
and anti-government voters to defeat  voters who believe Government improve society wellbeing.
Inflation Data is misused by many allowing them to use high, medium and low wage growth
       depending on the circumstances.
American Higher Education Turned False Promise

Obama Dusts Off His Cling to Guns or Religion Idea

Price Index used dramatically Changes Wage Growth

Democrats and Republicans- Differ Widely on Taxing the Rich

Taxing the Rich