End of the historical linkage between gross national product and wages
The decoupling of wages from productivity, sometimes known as the great decoupling,[citation needed] is the gap between the growth rate of median wages and the growth rate of GDP. Economists began to acknowledge this problem toward the end of the twentieth century and the beginning of the twenty-first century. This problem furthermore leads to wage stagnation despite continued economic growth.[1][2][3]
A number of causes have been hypothesized, including advances in technology such as automation, 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][8]
^Brynjolfsson, Erik; McAfee, Andrew (2013). "The Great Decoupling". mitsloan.mit.edu. Retrieved 23 November 2020.
^Škare, Marinko; Škare, Damian (4 May 2017). "Is the great decoupling real?". Journal of Business Economics and Management. 18 (3): 451–467. doi:10.3846/16111699.2017.1323793. ISSN 1611-1699.
^Cite error: The named reference :1 was invoked but never defined (see the help page).
^"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 23 November 2020.
^"Wage growth and productivity growth: the myth and reality of 'decoupling'". British Politics and Policy at LSE. 13 January 2014. Retrieved 23 November 2020.
^Schwellnus, Cyrille (2019). "Decoupling of wages from productivity" (PDF). OECD. Retrieved 23 November 2020.
^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 23 November 2020.
^"Decoupling of wages from productivity: What implications for public policies? – OECD". www.oecd.org. Retrieved 30 April 2021.
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