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Income vs. productivity


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2019 Feb 23, 5:04pm   4,433 views  47 comments

by Bd6r   ➕follow (2)   💰tip   ignore  

There was a post on Patnet about income vs. productivity. Something happened in middle 1970's, and they diverged. In short, most of income gains since early Carter times do not go to people who do the actual work. They go to owners of resources.
I was struggling with explanation (what happened in mid-1970's) and I am still not sure. One potential explanation is in this link:

https://www.tbwns.com/2019/02/18/the-bears-lair-ben-bernanke-killed-the-world-economy/#more-1601

The paper,“Low interest rates, market power and productivity growth” by Ernest Liu, Atif Mian and Amir Sufi, examines the behavior of firms in a competitive marketplace as interests decline, and demonstrates that, although lower interest rates at first increase competitiveness through increased investment, they also increase the comparative advantage of large firms, thus after a time discouraging the smaller firms from investing and making the market less competitive.

Small firms lose out competition to large, well-connected ones under low-interest rate environment. Does not explain everything (interest rates were high during early Reagan years), but perhaps they play a role. I would love to hear thoughts of other Patnetters. For record, this income vs productivity gap has increased through both R and D administrations. More regulations?

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41   anonymous   2019 Feb 26, 5:56pm  

Quigley says
You must be on your computer quite a bit to be this responsive.


Not really that much at all in aggregate time. I type fast and read faster

Starting to sound like the poster from Jersey a bit - surely there is better material out there to work with

Quigley says
Unless it truly is your job to shill for the Leftist oligarchs...


Just trying to even things out here - god only knows there are some really heavyweight shills on here for the right

Do my stuff pro bono

Any other questions ?

If not- have a nice evening and best wishes for a continued pleasant chat experience on the forum.
42   MisdemeanorRebel   2019 Feb 26, 7:03pm  

AD says
Second, there was a need for immigration more back then compared to now. Think about the debt and tax revenue trends in California, particularly the influx of net-takers compared to the costs for pensions and salaries of Californian government employees (i.e., school teachers, social workers, police, etc.). Those current trends nowhere existed in the past when there was a major influx of European immigrants.


Shit, think about the new Tool and Die every block in Chicago and New York. 7%+ Chinese Growth Rates back in the 1890s-1920s. Not today!

AD says
Third, there is more of a cultural domination of one group (i.e, spanish speaking) compared to more of a melting pot and diverse mix back to the period you are referencing. Examine the education pursuits and ambitions of today's group to the past's group, for example. Or examine the living conditions or standard of living as well.


You mean in the 50s and 60s a man with a factory job could own a house, TV, car, pension, etc. with a stay at home wife as whole new industries were created regularly, with patents up the ass, with everything from microwaves to color tv to transcontinental commercial air and spaceflight?

That was evil Modernist White Protestant America.
43   FortWayneAsNancyPelosiHaircut   2019 Feb 26, 8:10pm  

MisterLearnToCode says
You mean in the 50s and 60s a man with a factory job could own a house, TV, car, pension, etc. with a stay at home wife as whole new industries were created regularly, with patents up the ass, with everything from microwaves to color tv to transcontinental commercial air and spaceflight?

That was evil Modernist White Protestant America.


+1

And I bet most young liberals don't know that all that came from military industrial complex. They aren't old enough to know, and don't educate themselves enough to learn a damn thing.
44   HeadSet   2019 Feb 27, 8:14am  

You mean in the 50s and 60s a man with a factory job could own a house, TV, car, pension, etc. with a stay at home wife

Not just factory jobs, even jobs like a coal miner or a manager of a Gulf gasoline station.
45   MisdemeanorRebel   2019 Feb 27, 9:21am  

FortWayneIndiana says
And I bet most young liberals don't know that all that came from military industrial complex. They aren't old enough to know, and don't educate themselves enough to learn a damn thing.


To see them (or a hard libertarian) really squirm: Mention the internet isn't just from DARPA, but that Internet Protocol prototypes date back to the 50s and 60s, 100% funded by the Pentagon. Oracle and Databases too.
46   anonymous   2019 Feb 28, 4:12am  

Mindless clueless people with their faces buried in little screens oblivious to the world around them....

Pedestrian deaths hit a 28-year high, and big vehicles and smartphones are to blame

•A new report estimates the number of people hit and killed a vehicle climbed to its highest level since 1990.

•An estimated 6,227 pedestrians were killed in 2018, an increase of 250 victims compared to 2017, according to the Governors Highway Safety Association.

•Pedestrian fatalities in the U.S. have increased 41 percent since 2008 and now account for 16 percent of all traffic fatalities, the GHSA said.

Roads throughout the U.S. have become deadlier for pedestrians according to a new report which estimates the number of people hit and killed a vehicle climbed to its highest level since 1990.

An estimated 6,227 pedestrians were killed in 2018, an increase of 250 victims compared to 2017, the Governors Highway Safety Association (GHSA) said. The association based its estimate on data collected by state highway safety offices.

"The alarm bells continue to sound on this issue," Jonathan Adkins, GHSA executive director, said in a release about the rising number of people hit and killed by vehicles. "It's clear we need to fortify our collective efforts to protect pedestrians and reverse the trend."

Pedestrian fatalities in the U.S. have increased 41 percent since 2008 and now account for 16 percent of all traffic fatalities, the GHSA said.

Why are more people being killed by vehicles?

For starters, America's growing love affair with pickups, SUVs, and crossover utility vehicles means pedestrians are being hit by bigger, heavier, and more powerful automobiles. As a result, pedestrians who are hit by vehicles are more likely to die or suffer life threatening injuries, the association said. Pedestrian fatalities involving SUVs jumped by 50 percent between 2013 and 2017, the GHSA estimates.

Another factor is the growing population in many states, which has lead to more deadly encounters between drivers and pedestrians. The GHSA report also blames people being distracted by their smartphones and not being focused on the road as contributing to pedestrian fatalities.

Add in a strong economy with relative cheap gas prompting more people to drive more miles and it's a deadly recipe for people walking along or crossing streets.

The GHSA estimates five states — Arizona, California, Florida, Georgia, and Texas — accounted for almost half the pedestrian fatalities in the U.S. in the first half of 2018. The report says New Mexico had the highest pedestrian fatality rate per 100,000 residents in the first half of last year while New Hampshire had the lowest fatality rate.

https://www.cnbc.com/2019/02/28/pedestrian-deaths-hit-a-28-year-high-and-big-vehicles-and-smartphones-are-to-blame.html
47   Bd6r   2019 Feb 28, 9:13am  

Kakistocracy says
Mindless clueless people with their faces buried in little screens oblivious to the world around them

same with driving - cellphones now supposedly cause more traffic deaths than drinking and driving.

The National Safety Council reports that cell phone use while driving leads to 1.6 million crashes each year.
Nearly 390,000 injuries occur each year from accidents caused by texting while driving.
1 out of every 4 car accidents in the United States is caused by texting and driving.
Texting while driving is 6x more likely to cause an accident than driving drunk.

When will we see organizations such as Mothers against Texting and Driving?

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