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Monday Blog: The lost decade of wages

Wages is not an easy topic to consider on the first day of the week which happens to be a public holiday and a mixed one weather wise at that in the Republic of Ireland. Wages form the biggest share of household income for most households. Following years of wage freezes or cuts the economy is in a...

Monday Blog: Wages, Productivity and inflation

Wages are rising again for most workers in most sectors of the economy. The increases are moderate and in many cases the settlements made stretch out over a number of years and are, typically, related to ‘productivity’ measures. Growth in wages and in productivity is good news all round. Yet, the...

Monday Blog: The Tragedy of Hamlet

‘Neither a borrower or a lender be’ so said Polonius in The Tragedy of Hamlet Prince of Denmark by William Shakespeare. However, economies in modern times don’t work this way and neither did medieval societies notwithstanding the moral strictures placed on usury. The fact is that income does not...

Monday Blog: Wage inequality on the rise

Although inequality of income has taken up a lot of analytical space for many years much less attention has been given to trends in wage inequality. Last week I focussed on the share of labour in total income in the Republic of Ireland. This week I look at trends in wage inequality. Two facts stand...

Monday Blog: A worrying trend in wages

I bet you are perplexed by the title. Read on. Since the 1980s wages have declined sharply as a proportion of total income in the Republic of Ireland. While total income or production (GDP, GNI or GVA as you wish) has grown dramatically since the early 1990s the share of wages in the total cake as...