-Livemint.com
Real wages have grown at an average 1% annually between 1983 and 2013
Industrial workers on the shop floor have got a raw deal through the economic boom of the past three decades. Their real wages have grown far less than the growth in productivity. That flies in the face of the traditional economic assumption that the two move in tandem.
The share of wages in the net value added by industries has also fallen while the share of profits has climbed. A similar trend has become a hot-button political issue in several rich countries. French economist Thomas Piketty has already made waves with his arguments against the growing share of capital income across the world.
Please click here to read more.