There is a hell of a lot of BS conspiracy drivel on this thread but 'economist' Wolff takes the cake in many respects. The real reason real wages have declined since the 70s is because politicians, mostly but not exclusively of the left, have been printing money and wasting it.
Its just typical an 'economist' who self identifies as being of the Left would try to blame capitalism. You can also lay the blame for capitalisms failings - crony capitalism - mostly, but not exclusively, at the feet of left wing politicians.
Yes there is fault on both sides of the parliament but, as we have seen amply demonstrated, the preponderance is on the left.
If Wollf doesn't like capitalism what's his alternative - socialism?
When has that ever worked - EVER?