The New York times has an article about how the European middle class is seeing its wages stagnate and the standard of living plateau or decrease.

They don’t bother to give a reason, but strongly imply that it’s Europe’s stultified economy, as opposed to those dynamic Anglo-Saxon ones, even though one of the examples given is in the UK.

That’s the standard line, too much regulation causes wages to stagnate.

But if one looks at Europe, and the US, median wages have stagnated because of deregulation.

Simply put, when an executive gets over a billion dollars in remuneration, this is money that does not go toward other people’s wages and benefits, and deregulation and reductions in marginal tax rates increase wage disparities.

This is not happening because Reaganomimics has not been adopted at some level, this is happening it has been adopted at some level.