>> why do employers feel entitled to continuously cut the effective wages of employees?
They are entitled to offer anything they want, as it's their own money they are offering. See this is the sense of entitlement I'm referring to, which is implicit in your question.
I spent years spreading the "gap between productivity and wages" graph on the internet. I later learned that this supposed gap was a distortion of reality, created by bad statistics:
They are entitled to offer anything they want, as it's their own money they are offering. See this is the sense of entitlement I'm referring to, which is implicit in your question.
I spent years spreading the "gap between productivity and wages" graph on the internet. I later learned that this supposed gap was a distortion of reality, created by bad statistics:
https://www.brookings.edu/opinions/sources-of-real-wage-stag...
The reality is wage growth slowing since the 1970s due to slowing productivity growth. Where productivity growth is rapid, wage growth is rapid:
https://www.statista.com/statistics/743509/china-average-yea...