Declining real wages for decades are my evidence that supply curves are ahead of demand curves. I don’t see why education needs more labor, the number of children will be declining for the foreseeable future. More importantly, the buyers of that labor (government) are famously stingy and with budgets already strained with pension and other debt, I doubt they’re going to give up any extra wage gains.
not that we should go back, but it's worth noting that women entering the workforce probably greatly increased the supply side of the equation. Concurrently we're needing less and less people whilst also trying to figure out what to do with all this new supply introduced.
