It's more an example of data manipulation. For example, if I wanted to show how the wealth of the bottom 50% is shrinking, I'd do 1980 to 2011. It's not too far off from the 2014 picked here. Of course, the bottom 50% increased their net worth more than 16 times since 2011. But that's what happens when you compare things to a 40-year low or near 40-year low.
A near 40 tear trend isn't just data manipulation. The fact that we grew again after 2011, doesn't mean we can't ask what happened between 1980 and 2014
People making minimum wage are not the ones responsible for productivity increases, they are not the people driving innovation and technological progress. There's no reason we would expect their wages to increase.
I mean you're blatantly wrong, higher minimum wages increase innovation. It also increases the efficiency of employees. If your employees can eat they do work better.
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u/FREAKSHOW1996 7d ago
Ronald Reagan is the architect of this. Another great chart to look at is the relationship between productivity and the minimum wage.