We talk about wage stagnation around here a lot. If the labor market is tight, companies are raking in money with a bull market and tax breaks and the GDP is humming along, why aren't workers getting a raise? One possible explanation: Massive companies like Amazon are partially responsible, due to both reduced competition for workers and algorithmic pricing models that respond to economic forces more quickly. It's an idea that academics and policy wonks have been pursuing for years, and this week in Jackson Hole, Wyoming, the Federal Reserve started to take notice. New York Times senior economics correspondent Neil Irwin has written about this theory, and we had him on to make us smart about it.
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