Capitalism and Good Management Lowered Wages
Farmers of the late 19th
century faced lowering income
Manufacturing Workers of the late 20th century faced
Beginning with economic expansion caused by WWII, demand for U.S.
Top Companies Have Done Very Well
With most companies doing well managers did well
as did many hourly
Serious competition from foreign manufacturers beginning with automobiles and
steel increased supply
causing Rust Belt Industries to lose their pricing power.
This lowered profit.
incurred a loss as supply increased too much.
Wage give backs began and many workers found themselves with stagnating
Companies used technology and outsourcing to be more
profit but this put more pressure on wages. Many more wage types stagnated.
US Economic Normality 1945-2015