Wages Around The World

From Zero Hedge:



But minimum wages around the world vary dramatically...



MIT professor Erik Brynjolfsson, author of Race Against the Machines and The Second Machine Age, argues that technology is fundamentally changing labor markets and increasingly displacing higher-skill, higher-wage workers. He is hopeful, however, that a new approach to education as well as entrepreneurship can result in new industries that “not only create value for consumers, but also leverage a lot of people and put them to work in new ways.”

"Median incomes are stagnating and have even fallen since the 1990s. And there is no doubt in my mind that technology is a big part of that." - Erik Brynolfson

Of course, for much of Europe, none of that matters as the worker is much more protcted than the average American...


Source: Goldman Sachs

http://www.zerohedge.com/news/2015-03-29/wages-around-world