Working men and women had not had it so bad since the middle of the 19th century. During the 1860s, like the 2000s and 2010s, real wages grew slowly. Those mid-Victorian years were a lost decade for workers, disrupted by new technology such as steam engines and the telegraph.

Today’s lost decades are disrupted by information technologies. Explain the relationship between wages and technology in this news clip in terms of real business cycle theory.