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link for comment #19
It wasn't Jimmy Carter....but let's not tell anyone.
I did not say Carter - said happened during his time
If you are working hard washing floors, you’ll never make top dollar, every idiot can do that for cheap.
If you change that, society falls apart financially.
FortWayneIndiana saysIf you are working hard washing floors, you’ll never make top dollar, every idiot can do that for cheap.
If you change that, society falls apart financially.
It true. The question is, do we want to live in a world where even an idiot can afford a small house of their own? Or do we want the idiots to live in slums and get Obamacare?
I suspect one would see that the gap between the two lines is filled in nicely by the increase in Chinese median incomes as US executives moved our manufacturing over there to take advantage of crazy low wages, no unions, and no environmental laws.
The workers and companies who were exporting those jobs were very "productive" at increasing corporate profits at the expense of our working class.
No coincidence this happened in 1972, right when the divergence began?
I suspect one would see that the gap between the two lines is filled in nicely by the increase in Chinese median incomes as US executives moved our manufacturing over there to take advantage of crazy low wages, no unions, and no environmental laws.
Every advance in tech has made things easier to organize and produce and eliminated drudge jobs.
Something happened in middle 1970's, and they diverged.d6rB says
I was struggling with explanation (what happened in mid-1970's) and I am still not sure.
plenty of workers left to compete for wages
Turns out people can want/need things they never had before
What kind of wall is Trump going to build to prevent international telecommuting including replacing coders in the U.S. ?
I suspect one would see that the gap between the two lines is filled in nicely by the increase in Chinese median incomes as US executives moved our manufacturing over there to take advantage of crazy low wages, no unions, and no environmental laws.
The workers and companies who were exporting those jobs were very "productive" at increasing corporate profits at the expense of our working class.
Telemigrants are coming for your white-collar job, and a wall won’t stop them, workers stay in their country and telecommute to jobs in the U.S. and earn far less than an American.
The part of globalization that really hurt Americans workers is not just that they were made to compete with poor people, it is that the managers of this country took American technologies, know-how, factories, etc... and sent all of it to foreign countries, then put American workers in competition with thus equipped low wage workers.
20% of the country is now foreign born
10s of millions of unskilled workers where the male is working off the books while the female and children are 110% on welfare.
Wonder how many would be here commenting if millions of unskilled workers were not allowed in during that period
Something released in the last 12 months or so covering a reasonable period of time that shows the male is working "off the books" while the rest of the family is on the dole.
What about poor native born - all races ?
Meanwhile, go hang out at a 7-11 or Home Depot and count the men working off the books with wedding rings.
Lowered wages due to a Business/SJW deliberate glut of unskilled barbarians from the third world.
Funny - those same concerns were around during the great migration of Europeans, Scandinavians, Irish, Slavs etc. around the time period I reference above.
They didn't need them before and they still don't need them but peer envy greases the skids so people buy things they think the need.
That translates to we can offer whatever shitty wages and benefits we want because what one person does not take, someone else will and be happy they got the position.
But if you think that my desire to have a smart phone is just a function of peer envy, why don’t you give up yours permanently?
Mindless clueless people with their faces buried in little screens oblivious to the world around them.
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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?