The 40-Year Slump
by HAROLD MYERSON
Nov 15, 2013 | 85 views | 0 0 comments | 0 0 recommendations | email to a friend | print
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.

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