Comment by Herring
There's never been any such contract. You guys must not have studied the Great Depression at school.
Or more to the point, productivity has consistently outpaced pay for most of the US workforce since the mid-1970s. That's ~50 years that companies have been ripping you off. It's only now you notice, because rent/mortgage/school/medical have finally become so much larger than pay.
Well now you get to live through the Great Depression and study it up close.
> That's ~50 years that companies have been ripping you off. It's only now you notice, because rent/mortgage/school/medical have finally become so much larger than pay.
The alternate way of looking at it is that the 50s to mid 70s era saw a period of unprecedented prosperity and now we are just seeing a reversion to the mean.