The Role of Political Factors in Wage Growth
Economic historians observe that for centuries, average workers' pay remained largely stagnant despite occasional technological advances. However, starting in the 19th century, a sustained, rapid increase began. One explanation for this shift emphasizes that technological progress, which increased overall economic output, was a necessary but not sufficient condition. Explain why political events, such as the extension of voting rights or the legalization of trade unions, were also considered a critical component in translating increased output into higher real wages for workers.
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