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BS. Post your source, so we can laugh at it.

The laughs on you

Over the past 40 years, a period in which U.S. GDP per capita more than doubled after adjusting for inflation, the annual earnings of the median prime-aged male have actually fallen by 28 percent. Indeed, males at the middle of the wage distribution now earn about the same as their counterparts in the 1950s! This decline reflects both stagnant wages for men on the job, and the fact that, compared with 1969, three times as many men of working age don’t work at all.

Authors:

Michael Greenstone

Michael Greenstone is a Nonresident Senior Fellow in Economic Studies at the Brookings Institution. He is the Milton Friedman Professor of Economics and Director of the interdisciplinary Energy Policy Institute at Chicago. His other current positions and affiliations include Elected Member of the American Academy of Arts and Sciences, Editor of the Journal of Political Economy, Faculty Director of the E2e Project, Head of the JPAL Environment and Energy Program, and co-Director of the International Growth Centre’s Energy Research Programme. Prior to rejoining the faculty at Chicago, Professor Greenstone was the 3M Professor of Environmental Economics at MIT.

Greenstone received a Ph.D. in economics from Princeton University and a BA in economics with High Honors from Swarthmore College.

Adam Looney

Adam Looney is Deputy Assistant Secretary for Tax Analysis at the U.S. Treasury. In that role, he advises the Secretary on economic issues related to tax policy, analyzes current and proposed legislation, and provides the official receipts forecasts and revenue estimates for the Administration’s budgets. Prior to joining the Treasury, he served as the Policy Director of The Hamilton Project, and was Senior Fellow in Economic Studies at the Brookings Institution. Previously, Looney served as the senior economist for public finance and tax policy with the President's Council of Economic Advisers and was an economist at the Federal Reserve Board. He received a PhD in economics from Harvard University and a BA in economics from Dartmouth College.