Not even immigrant robots. It’s women. Interesting observation by Vox Day at his blog.
“the reason real hourly wages peaked in 1973 and have been falling ever since is because that was the year that the number of men younger than 20 and older than 65 leaving the labor force was surpassed by educated, middle-class women entering it.
One-third of working class women have always worked. The change brought by feminism is that now middle class and upper middle class married women work as well. And the more women that work, the more women have to work and the less time women who don’t work will have with their husbands who support them, because an INCREASE in the SUPPLY of labor necessitates a DECREASE in the PRICE of labor, demand remaining constant.”
1973 was of course also a pivotal year because of the Kissinger-engineered quadrupling of the Oil Price in Dollar terms, causing rampant inflation. But nevertheless, the women-into-the-workforce trend must have the effect Vox Day describes.
And: Since 1971 the income disparity between upper 10% and rest of the population is widening. Triggered by the introduction of unbacked US Dollars and the inflation to go with it – which was annually 6 or 8 % in the early 1970ies; but again, driven by the women-into-the-workforce trend. The inflation enabled companies to gradually let real wages decay to follow the supply-demand pressure of the oversupply of labour.
Trends in Germany are similar though less or more devastating as in USA – less because we can afford to not work and more because we can’t afford to work. More income redistribution; more socialism; more welfare; more taxes.