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Let's look at ... wages adjusted for inflation. ...In the late 1970s there was a definite phase transition. Up to that point, for the previous two ge… - Peter Turchin
" "Let's look at ... wages adjusted for inflation. ...In the late 1970s there was a definite phase transition. Up to that point, for the previous two generations, the wages for both unskilled and manufacturing workers had been growing quite rapidly and almost linearly... [W]ages for manufacturing workers increased... fourfold... a quite remarkable achievement... [I]t was unprecedented in human history to see such a long-term sustained increase in general well-being. Then... the wages stagnated, or even declined. So what was the reason?
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About Peter Turchin
Peter Valentinovich Turchin (born 22 May 1957) is a Russian-American complexity scientist, specializing in an area of study he and his colleagues developed called —mathematical modeling and statistical analysis of the dynamics of historical societies. He is currently Editor-in-Chief at Cliodynamics: The Journal of Quantitative History and Cultural Evolution. As of 2020, he is a director of the .
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P Turchin
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Peter Valentinovich Turchin
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So the forecast seems to have been quite good. The question is "What was it based on?" It was not... a prophecy, it was a scientific prediction because there is a specific mechanism on which it was based. ...[T]he forecast was a scientific prediction in the sense that I wanted to stick my neck out [and] make an out-of-sample prediction to see whether the mechanisms that have been identified by our theory... actually are working in the way that we thought...
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