Great points! I disagree with you on this: Wages at the low end rise with the cost of living.
I think this is really an elasticity issue and that we have far too much low skill labor available in the USA (in part because we can import it easily). This means that low end wages have no reason to rise.
I think this is really an elasticity issue and that we have far too much low skill labor available in the USA (in part because we can import it easily). This means that low end wages have no reason to rise.