> it's because workers set a bar for themselves in terms of quality of life, and they simply want to reach that bar. If it can be done with two salaries buying cheap goods and services, then wages don't need to rise.
thats a post facto explanation, which i don't believe can be used to make predictions. I mean, will wages rise if suddenly, due to post peak oil, that cost of living suddenly became high?
I think the real reason wages didn't rise is because it didn't have to (from the point of view of the employer) - there are people willing to keep the same wage. In other words, people are becoming more and more worthless, especially unskilled workers (automation and robotics etc). Its a sad fact, but its true, and its a problem that needs fixing. Probably only fixable by better gov't policies on education.
thats a post facto explanation, which i don't believe can be used to make predictions. I mean, will wages rise if suddenly, due to post peak oil, that cost of living suddenly became high?
I think the real reason wages didn't rise is because it didn't have to (from the point of view of the employer) - there are people willing to keep the same wage. In other words, people are becoming more and more worthless, especially unskilled workers (automation and robotics etc). Its a sad fact, but its true, and its a problem that needs fixing. Probably only fixable by better gov't policies on education.