Why Do We Have High Prices But Stagnating Wages?

In the last few decades, American wages have stagnated for everyone except those at the very top. Yet, during this same period, worker productivity and corporate profits have soared. Why these two trends have coincided has perplexed economists. But, in a new book, economist Jan Eeckhout proposes a simple answer: market power. We discuss his proposal and possible solutions for this problem on this episode. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.