In the United States, it is conventional wisdom that wages have stagnated for decades.
Labor costs have been rising at the fast rate, but they still are only 12.6 per cent of the operating costs. Poland has large pockets of underpaid labor in the economy, says Piotr Boguszewski, PhD.
Systematic surpluses of exports over imports create space for rising wages in the countries of the Visegrad Group.
Looking in from the outside, Russians are acting irrationally. Before looking at why the Russian economy is bad it makes sense to look at a few areas of the Russian economic weather in which there is no sign of the sun.