From 1954 thought 1974, American workers brought home most of the wealth that they produced. Since 1974, they've steadily lost power—and they're getting just a fraction of the wealth they produce today.
Nov 12, 2013
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The steady stream of Watergate revelations, President Richard Nixon’s twists and turns to fend off disclosures, the impeachment hearings, and finally an unprecedented resignation—all these riveted the nation’s attention in 1974. Hardly anyone paid attention to a story that seemed no more than a statistical oddity: That year, for the first time since the end of World War II, Americans’ wages declined.