When political debates about economics arise there are often many things that could be said, but they all seem to allude whether or not things are fair. The Left is likely to say something about unfair economic disparity (which is rather vague), while the right will likely discuss the detrimental effects of a welfare state (which misses a major part of the point about the vague “leftist” argument). This country needs to have a discussion about wages, as that is really the latter that allows for a society to have social mobility, and the United States is currently ranked quite low in the civilized world in regards to social mobility. In fact, according to a Forbe’s article I ran across the United States is ranked 10th in the category that many would believe is the absolute definition of “The American Dream”. I don’t mean to hate America, or to be gloomy, but I think that this is a fair question to ask – what effects is the falling wage rate having on the United States’ social mobility?
To my many friends out their who are unsure of why I ask questions about our economic makeup I ask that you look at this chart. Should we consider this a problem, and if so why? If not, please tell me why?
Also, If stagnant wages really are a threat to the core of our nation (as I think that they might be) what could or should we do about it?