Earlier quoted context omitted.
And this wage suppression was direct collusion, corporations have such an oligopoly now they hardly need to explicitly collude, both on wages or prices. A company raises the price for something, and it's called 'price leadership', other companies recognize it is in their interest to follow suit and prices go up. The same dynamic exists for wages. Years of not enforcing anti-trust have left us in a pretty bad spot.
We've seen across the board price increases recently, but it was inflation, not collusion. How do you explain price decreases? > Years of not enforcing anti-trust have left us in a pretty bad spot. And yet STEM graduates were getting $200K+ for their first jobs. How is that collusion working out?
Corporations decide to set their prices higher, and you have a price inflation. We know that this is not merely a function of their inputs going up because many companies have been pulling in record profits during this time period. Nobody needs to meet in a smoke filled room for this to happen.
> And yet STEM graduates were getting $200K+ for their first jobs. How is that collusion working out?
You're being distracted with a nickel while your pockets are being emptied. It's all relative. Look at the cash big tech firms have in the bank. Google used 60B dollars to inflate their stock price this year with stock buybacks at the same time they laid of 6% of their workforce.