How does Katz's work apply to current wage stagnation?
My research on rising wage inequality and the returns to skill is highly relevant to understanding current wage dynamics. The widening gap observed since the 1980s suggests that technological advancements are still favoring higher-skilled workers, and the educational system hasn't fully kept pace in supplying that demand. Policies aimed at boosting skills, improving educational access, and potentially considering the role of institutions in wage setting are crucial for addressing wage stagnation for many workers.
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