Quotation of the Day…

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… is from page 72 of economists Phil Gramm’s, Robert Ekelund’s, and John Early’s important and data-rich 2022 book, The Myth of American Inequality: How Government Biases Policy Debate:

The growth in American productivity was sufficient to produce real hourly earnings for high school dropouts in 2017 that were higher than those earned by high school graduates with some college or technical training in 1967. High school graduates in 2017 had higher real hourly earnings than college graduates in 1967, and high school graduates with some college in 2017 earned about as much as people with advanced degrees earned in 1967.