Thanks for the post. In America, the economic growth has been increasing the American wages. You will learn that economic growth is really measured by a statisistic called real GDP which is exactly the same thing as real income (they both add up to the same number).

I think what you are actually referring to is the fact that although America’s real income growth (”purchasing power”) has been strong this decade (2.5% average annual growth which is nominal income less inflation), the growth has been virtually non-existent for America’s middle class and poor. The real income gains have accrued almost exclusively to the educated “white collar” workers, the entrepreneurs, and the business owners (stock holders). Global competition has kept the middle and lower class wages down keeping a large part of the labor force at the same standard of living that they were at in 2000. The middle class is, however, enjoying many of the non-financial, quality gains such as Google search engines, cell phones, and game systems even though their quantity of goods & services received has remained flat.