After the longest fall in modern history real wages are finally turning the corner. But the outlook for pay remains highly uncertain. Productivity remains on the floor. Automation and globalisation generate pessimism about our pay prospects. Others feel that the wage-gloom is overdone. As pay starts to rise what can be done to secure widely shared gains for all workers?
The Resolution Foundation has published a book of essays by leading economists on both sides of the Atlantic – including John Van Reenen, Alison Wolf, Jared Bernstein and Simon Wren-Lewis – setting out what they expect to happen to wages, and what role there is for policy over the next Parliament.
At an event at its central London HQ, Gavin Kelly introduced the book and several of the book’s authors summarised their contribution and took part in a Q&A.