28 Aug 06 Economics

Real Wages Up, Not Down – Economists Fight

A biased New York Times article on wages being down gets a fisking:

“What keeps my wages high (and yours) is our alternatives…What sets workers wages are the wages of those alternatives…Workers are better educated than ever. That is why I believe that compensation, properly measured, is higher than it was five or ten or twenty or thirty years ago.” – Russel Roberts

Thanks to Tyler @ Marginal Revolution for the pointer.

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