Thomas Sowell does his usual excellent job of puncturing an economic myth, namely that for “average” workers, real wages have been declining since the 1970s. It’s laughably false, but of course that doesn’t stop advocates for more governmental interference with the free market from trying to capitalize on the implied conclusion that if only we had more “worker friendly” policies, this situation would turn around. You can read Sowell’s column here.
Now, if it were true, the right conclusion would be not that we need more “worker friendly” policies, but that we should jettison the governmental impediments to capitalism that we already have. In fact, that’s the right conclusion anyway.
