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<p>[QUOTE=&quot;NorthKorea, post: 1978975, member: 29643&quot;]Maybe you can blame the economics department at my alma mater, but I was conferred a degree in environmental economics; my thesis was macro-economic modeling in South East Asia&#039;s developing markets from 1991-1997. The reason my degree was in environmental econ instead of macro econ was two senior level courses that I took to fulfill a writing intensive credit requirement.</p><p><br /></p><p>Anyway, I will maintain my belief that average wages should always be (assuming zero innovation and constant output relative to population size) flat or downward trending (if we account for scarcity of goods) when adjusted for inflation.</p><p><br /></p><p>There&#039;s no logical system under which average wages over the long-run would increase relative to inflation, without innovation.[/QUOTE]</p><p><br /></p>

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