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Resolution Foundation, May 2011
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|Resource title||Growth without gain?: The faltering living standards of people on low-to-middle incomes|
|Publication/ source||Resolution Foundation|
|Date published||May 2011|
|Summary text/ abstract||Recent trends in several of the world's advanced economies are prompting leading thinkers to reappraise the link between national economic growth and personal gain. These trends are most stark in the United States, where median earnings have now been stagnant for a generation. The median American worker in 2009 earned no more than an equivalent worker in 1975. Over the same period, US GDP more than doubled. There is now evidence that American workers are not alone in having failed to benefit from a long period of economic growth. Similar trends, though far less chronic and less acute, are now in evidence in leading economies such as the UK, Germany and Canada. In all three countries, median wages were stagnant or falling during long periods of growth, prior to the 2008-09 global recession. The phenomenon is by no means universal. Other OECD economies appear to have experienced better wage performance, including Australia, France, Sweden and Norway.|
|Library categories||Anarchism & Action, Economics, Simplicity, UK Government|
Growth without gain?: The faltering living standards of people on low-to-middle incomes [2 megabytes]
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