China’s Economic Record Vs US

By professor Richard Wolf

“For most of the last 20 years the rate of growth in China has been 2, 3 or 4 times that of the Unitedd States”

“In the United States real wages (The average wage of the U.S. worker) has stagnated. It has gone nowhere. In 1973 the average wage of an American, was able to buy more thing than it was in 2018. The real wage in the United States is less today than it was then.” – In the last 40 to 45 years American real income wages, their real wages have not gone up. The real hourly wage in the united states is lower today than it was in 1973.

Posted July 08, 2019

Richard D. Wolff is Professor of Economics Emeritus, University of Massachusetts, Amherst where he taught economics from 1973 to 2008. He is currently a Visiting Professor in the Graduate Program in International Affairs of the New School University, New York City.

Earlier he taught economics at Yale University (1967-1969) and at the City College of the City University of New York (1969-1973). In 1994, he was a Visiting Professor of Economics at the University of Paris (France), I (Sorbonne). Wolff was also regular lecturer at the Brecht Forum in New York City.

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