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Friday, June 3, 2011

Real Wages Haven't Grown for a Decade | Politeia | Big Think

Real Wages Haven't Grown for a Decade | Politeia | Big Think: It has been a bad 10 years for the economy. As I’ve written before, the last decade was, economically, a lost decade. As this graph from Ezra Klein shows, there has been essentially no job growth for ten years, net household worth actually fell, and the economy as a whole grew less than 18%—compared to 35% or more for every other decade since the Great Depression. In fact, in many ways, the last 10 years has been as bad as the Great Depression. That's why Paul Krugman called the decade "the Big Zero.”