Decoupling of wages from productivity

The decoupling of wages from productivity, sometimes known as the Great Decoupling, is the apparent end of the historical linkage between gross national product and wages around the end of the twentieth century and start of the 21st century, leading to wage stagnation in spite of continued economic growth.[1][2][3]

A number of causes have been hypothesized, including advances in technology, globalization, self-employment and wage inequality.[4][5][6] Some commentators argue that some or all of the Great Decoupling can be explained as the product of faulty assumptions about the underlying economics.[7]

References
  1. Brynjolfsson, Erik; McAfee, Andrew (2013). "The Great Decoupling". mitsloan.mit.edu. Retrieved 2020-11-23.
  2. Škare, Marinko; Škare, Damian (2017-05-04). "Is the great decoupling real?". Journal of Business Economics and Management. 18 (3): 451–467. doi:10.3846/16111699.2017.1323793. ISSN 1611-1699.
  3. Schwellnus, Cyrille; Kappeler, Andreas; Pionnier, Pierre-Alain (2017-01-31). "Decoupling of wages from productivity: Macro-level facts". OECD Economics Department Working Papers. doi:10.1787/d4764493-en. Cite journal requires |journal= (help)
  4. "OECD Economic Outlook, Volume 2018 Issue 2, Chapter 2: Decoupling of wages from productivity: what implications for public policies?" (PDF). OECD. 2018. p. 51. Retrieved 2020-11-23.
  5. "Wage growth and productivity growth: the myth and reality of 'decoupling'". British Politics and Policy at LSE. 2014-01-13. Retrieved 2020-11-23.
  6. Schwellnus, Cyrille (2019). "Decoupling of wages from productivity" (PDF). OECD. Retrieved 2020-11-23.
  7. Pessoa, João Paulo; Van Reenen, John (October 2013). "CEP Discussion Paper No 1246: Decoupling of Wage Growth and Productivity Growth? Myth and Reality" (PDF). cep.lse.ac.uk. Retrieved 2020-11-23.

See also


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