A new report published Thursday by the Economic Policy Institute details how wage stagnation in the U.S. is not due abstract forces like technological advances and globalization, but the result of very specific decisions made by U.S. policymakers over the past several decades.The new analysis by the Economic Policy Institute suggests that with adequate political will, lawmakers could easily lift up workers and also close the widening wealth gap which has left just three mega-rich Americans with as much wealth as the bottom 50% of the nation’s population.
According to EPI’s Lawrence Mishel and Josh Bivens, who wrote the study, “intentional policy decisions designed to suppress typical workers’ wage growth, the failure to improve and update existing policies, and the failure to thwart new corporate practices and structures aimed at wage suppression” have all helped create conditions in which the average workers’ pay has scarcely grown in the last four decades, even as the U.S. economy has grown and productivity has increased.
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