Magazine August 14, 2017, Issue

Letters

(Baz Ratner/Reuters)

A Bleak Future for Wage Growth

Robert VerBruggen’s “conundrum” about wage-growth stalling (“A Wage-Growth Conundrum,” July 31) clears up when you realize that the categories of capital, labor, and productivity as presently defined in government statistics are hopelessly confused. Even VerBruggen admits that counting housing as capital is erroneous and has distorted standard measures of recent capital growth. Far from being a conundrum or an anomaly, weak wage growth in the face of rising returns to capital is inevitable in a system in which labor is regarded as a commodity, and profit of whatever magnitude as the just reward to the

NR Editors includes members of the editorial staff of the National Review magazine and website.

In This Issue

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Features

Books, Arts & Manners

Politics & Policy

The Radical

Long after Henry David Thoreau’s death in 1862, Walt Whitman praised him for his “lawlessness — his dissent — his going his own absolute road let hell blaze all it chooses.”

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The Week

The Week

‐ George Romero, 1940 –2017. Rest in peace — please. ‐ The New York Times has revealed that, in June 2016, Donald Trump Jr. got an e-mail from Rob Goldstone, a ...
Politics & Policy

Poetry

THE CUSP OF SUMMER Geese in skies are on the wing. The pointed flock, triangle-shaped, Announce with honks the start of spring When tall green trees are softly draped. Trumpeting starts off everything Once more. Black ...
Letters

Letters

A Bleak Future for Wage Growth Robert VerBruggen’s “conundrum” about wage-growth stalling (“A Wage-Growth Conundrum,” July 31) clears up when you realize that the categories of capital, labor, and productivity as ...

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