40 Years of Class Warfare in One Chart.

[georgephillip]

"The fact that wage stagnation stems from intentional policy decisions means that fundamental economic forces did not make these trends inevitable.

"The income, wealth, and wages generated over the last generation were sufficient to provide broadly shared prosperity for all families."

Causes of Wage Stagnation Economic Policy Institute

 

[danielpalos]

yes, it is about the class warfare of appealing to ignorance of any clue and any Cause.

I don't believe you understand the OP.

I understand it; why do those of the opposing not understand the "Patton doctrine (of argumentation)" and getting the other fellow to resort to fallacy for their Cause, first.

it is about the class warfare of appealing to ignorance of any clue and any Cause.

we could have solved this social dilemma, last millennium, but for that.

 

[kaz]

"Productivity in the economy grew by 80.4 percent between 1973 and 2011 but the growth of real hourly compensation of the median worker grew by far less, just 10.7 percent….

"The pattern was very different from 1948 to 1973, when the hourly compensation of a typical worker grew in tandem with productivity.

"Reestablishing the link between productivity and pay of the typical worker is an essential component of any effort to provide shared prosperity and, in fact, may be necessary for obtaining robust growth without relying on asset bubbles and increased household debt."

40 Years of Economic Policy in One Chart CounterPunch Tells the Facts Names the Names

In the 1970s wages detached from productivity and the richest among us began using their newly acquired wealth to reduce taxes on capital, role back regulations, break unions, "and induce their shady Central Bank buddies to keep interest rates locked below the rate of inflation so they could cream hefty profits off gigantic asset bubbles."

Mission Accomplished?

Maybe you should stop driving corporations to automate and go offshore to manage their labor costs? Wages will go up with productivity, but you undercut that when you warp the market with artificial incentives by implementing social policy though private employement

 

[kaz]

Basic supply and demand. In the late 60s women and minorities were being educated more and more and entering the workforce. The addition of women in many formerly male jobs created a large supply.

Some would argue that women entered the work force because a declining share in the productivity pie meant households could no longer stay afloat with only a single spouse employed.

Ridiculous argument. Women entering the workforce increased the wealth of families and the nation as they created economic value rather than just living off economic value created by men as it was before they entered the workforce. If women didn't exist before they entered the workforce, you could argue that. But they did, and they ate and consumed without producing economic value. When they entered the workforce, they continued to live off the economy but added to it

 

[EdwardBaiamonte]

"This paper’s key findings include:

• According to every major data source, the vast majority of U.S. workers—including white-collar and blue-collar workers and those with and without a college degree—have endured more than a decade of wage stagnation. Wage growth has significantly underperformed productivity growth regardless of occupation, gender, race/ethnicity, or education level..."

"The weak wage growth over 2000–2007, combined with the wage losses for most workers from 2007 to 2012, mean that between 2000 and 2012, wages were flat or declined for the entire bottom 60 percent of the wage distribution (despite productivity growing by nearly 25 percent over this period)."

A Decade of Flat Wages The Key Barrier to Shared Prosperity and a Rising Middle Class Economic Policy Institute

yes of course wages for Americans are down because:

liberal taxes, liberal unions, and liberal deficits drove jobs off shore. 20 million liberal illegals competed for the remaining jobs while drive down wages still further.

Secondarily, the liberal attack on the schols and family made many Americans unfit for work.

 

[georgephillip]

Ridiculous argument. Women entering the workforce increased the wealth of families and the nation as they created economic value rather than just living off economic value created by men as it was before they entered the workforce. If women didn't exist before they entered the workforce, you could argue that. But they did, and they ate and consumed without producing economic value. Wh

How are you defining "economic value" Do mothers supply economic value by nurturing their children? What economic value did yours produce when she gave you life? Women entered the work force in greater numbers during the 1970s because wages had diverged from productivity, and it was no longer possible to support a family with only a single parent working. You really DID NOT BUILD THAT, Slick. You're just another free rider

 

[georgephillip]

yes of course wages for Americans are down because:

liberal taxes, liberal unions, and liberal deficits drove jobs off shore. 20 million liberal illegals competed for the remaining jobs while drive down wages still further.

Secondarily, the liberal attack on the schols and family made many Americans unfit for work.

"“Productivity in the economy grew by 80.4 percent between 1973 and 2011 but the growth of real hourly compensation of the median worker grew by far less, just 10.7 percent…. The pattern was very different from 1948 to 1973, when the hourly compensation of a typical worker grew in tandem with productivity."
40 Years of Economic Policy in One Chart CounterPunch Tells the Facts Names the Names

 

[danielpalos]

"Productivity in the economy grew by 80.4 percent between 1973 and 2011 but the growth of real hourly compensation of the median worker grew by far less, just 10.7 percent….

"The pattern was very different from 1948 to 1973, when the hourly compensation of a typical worker grew in tandem with productivity.

"Reestablishing the link between productivity and pay of the typical worker is an essential component of any effort to provide shared prosperity and, in fact, may be necessary for obtaining robust growth without relying on asset bubbles and increased household debt."

40 Years of Economic Policy in One Chart CounterPunch Tells the Facts Names the Names

In the 1970s wages detached from productivity and the richest among us began using their newly acquired wealth to reduce taxes on capital, role back regulations, break unions, "and induce their shady Central Bank buddies to keep interest rates locked below the rate of inflation so they could cream hefty profits off gigantic asset bubbles."

Mission Accomplished?

Maybe you should stop driving corporations to automate and go offshore to manage their labor costs? Wages will go up with productivity, but you undercut that when you warp the market with artificial incentives by implementing social policy though private employement

There are two sides to that equation. Why not reserve labor at the rock bottom cost of a form of minimum wage; ostensibly, to end that form of wage-slavery on an at-will basis.

 

[danielpalos]

"This paper’s key findings include:

• According to every major data source, the vast majority of U.S. workers—including white-collar and blue-collar workers and those with and without a college degree—have endured more than a decade of wage stagnation. Wage growth has significantly underperformed productivity growth regardless of occupation, gender, race/ethnicity, or education level..."

"The weak wage growth over 2000–2007, combined with the wage losses for most workers from 2007 to 2012, mean that between 2000 and 2012, wages were flat or declined for the entire bottom 60 percent of the wage distribution (despite productivity growing by nearly 25 percent over this period)."

A Decade of Flat Wages The Key Barrier to Shared Prosperity and a Rising Middle Class Economic Policy Institute

yes of course wages for Americans are down because:

liberal taxes, liberal unions, and liberal deficits drove jobs off shore. 20 million liberal illegals competed for the remaining jobs while drive down wages still further.

Secondarily, the liberal attack on the schols and family made many Americans unfit for work.

Having access third world labor with a third world work ethic helps, doesn't it.

 

[mudwhistle]

"Productivity in the economy grew by 80.4 percent between 1973 and 2011 but the growth of real hourly compensation of the median worker grew by far less, just 10.7 percent….

"The pattern was very different from 1948 to 1973, when the hourly compensation of a typical worker grew in tandem with productivity.

"Reestablishing the link between productivity and pay of the typical worker is an essential component of any effort to provide shared prosperity and, in fact, may be necessary for obtaining robust growth without relying on asset bubbles and increased household debt."

40 Years of Economic Policy in One Chart CounterPunch Tells the Facts Names the Names

In the 1970s wages detached from productivity and the richest among us began using their newly acquired wealth to reduce taxes on capital, role back regulations, break unions, "and induce their shady Central Bank buddies to keep interest rates locked below the rate of inflation so they could cream hefty profits off gigantic asset bubbles."

Mission Accomplished?

What happened in 1980?

We made a comittment to supply side economics

Yes, but the right had it commuted to simply bailing out the wealthiest and then letting the rest trickle down.

God knows we could use the fucken jobs. Maybe we can bring some terrorists over from the Middle-East and make sure they're gainfully employed.

No. I think we should kill the rich motherfuckers and take their shit. Then eat them. We don't need their stinking wages and group health plans. Fuckers. Wage paying sonsofbitches.

 

[danielpalos]

My good Comrade, some on the left believe we should simply Use capitalism for all of its worth merely because we have a social, Commerce Clause.

 

[kaz]

Ridiculous argument. Women entering the workforce increased the wealth of families and the nation as they created economic value rather than just living off economic value created by men as it was before they entered the workforce. If women didn't exist before they entered the workforce, you could argue that. But they did, and they ate and consumed without producing economic value. Wh

How are you defining "economic value"

You realize you're on the internet with a browser, no?

Do mothers supply economic value by nurturing their children?

What does "supply" economic value mean? If you mean create, no, they do not CREATE economic value by nurturing their kids. That is value, but it is not ECONOMIC value. You understand this is an ECONOMIC thread, no? It's not one about family values. Because something you like had value to you, that does not make it ECONOMIC value.

What economic value did yours produce when she gave you life?

None, she did not create ECONOMIC value when she had me

Women entered the work force in greater numbers during the 1970s because wages had diverged from productivity, and it was no longer possible to support a family with only a single parent working. You really DID NOT BUILD THAT, Slick. You're just another free rider

You lost me in the Marxist rhetoric. But I paid for it, yeah, I did build that. You shlepped to a job and did one created, funded and defined by someone else and while you had something to do with it, it was a lot less than what I did

 

[kaz]

"Productivity in the economy grew by 80.4 percent between 1973 and 2011 but the growth of real hourly compensation of the median worker grew by far less, just 10.7 percent….

"The pattern was very different from 1948 to 1973, when the hourly compensation of a typical worker grew in tandem with productivity.

"Reestablishing the link between productivity and pay of the typical worker is an essential component of any effort to provide shared prosperity and, in fact, may be necessary for obtaining robust growth without relying on asset bubbles and increased household debt."

40 Years of Economic Policy in One Chart CounterPunch Tells the Facts Names the Names

In the 1970s wages detached from productivity and the richest among us began using their newly acquired wealth to reduce taxes on capital, role back regulations, break unions, "and induce their shady Central Bank buddies to keep interest rates locked below the rate of inflation so they could cream hefty profits off gigantic asset bubbles."

Mission Accomplished?

Maybe you should stop driving corporations to automate and go offshore to manage their labor costs? Wages will go up with productivity, but you undercut that when you warp the market with artificial incentives by implementing social policy though private employement

There are two sides to that equation. Why not reserve labor at the rock bottom cost of a form of minimum wage; ostensibly, to end that form of wage-slavery on an at-will basis.

Huh?

 

[danielpalos]

Socialism can reach up to full employment of resources in any given market through command economics.

 

[CrusaderFrank]

"Productivity in the economy grew by 80.4 percent between 1973 and 2011 but the growth of real hourly compensation of the median worker grew by far less, just 10.7 percent….

"The pattern was very different from 1948 to 1973, when the hourly compensation of a typical worker grew in tandem with productivity.

"Reestablishing the link between productivity and pay of the typical worker is an essential component of any effort to provide shared prosperity and, in fact, may be necessary for obtaining robust growth without relying on asset bubbles and increased household debt."

40 Years of Economic Policy in One Chart CounterPunch Tells the Facts Names the Names

In the 1970s wages detached from productivity and the richest among us began using their newly acquired wealth to reduce taxes on capital, role back regulations, break unions, "and induce their shady Central Bank buddies to keep interest rates locked below the rate of inflation so they could cream hefty profits off gigantic asset bubbles."

Mission Accomplished?

What happened in 1980?

We made a comittment to supply side economics

Alex Trebek says, "Oh, I'm sorry, the correct answer was 1973"

 

[CrusaderFrank]

Socialism can reach up to full employment of resources in any given market through command economics.

That's sarcasm, right?

 

[georgephillip]

No. I think we should kill the rich motherfuckers and take their shit. Then eat them. We don't need their stinking wages and group health plans. Fuckers. Wage paying sonsofbitches.

Send them to Gitmo after they watch their kids vaporized by drone strikes. When are you and O'Reilly leaving for Ukraine? Be sure to say "Hi" to Hunter.

 

[georgephillip]

ou lost me in the Marxist rhetoric. But I paid for it, yeah, I did build that. You shlepped to a job and did one created, funded and defined by someone else and while you had something to do with it, it was a lot less than what I did

Why do you think performing wage labor is worth less than providing the job?

 

[georgephillip]

What does "supply" economic value mean? If you mean create, no, they do not CREATE economic value by nurturing their kids. That is value, but it is not ECONOMIC value

"Economic value is a measure of the benefit provided by a good or service to an economic agent. It is generally measured relative to units of currency, and the interpretation is therefore 'what is the maximum amount of money a specific actor is willing and able to pay for the good or service'"?
^^^Do you agree?
Value economics - Wikipedia the free encyclopedia

 

[chikenwing]

"Productivity in the economy grew by 80.4 percent between 1973 and 2011 but the growth of real hourly compensation of the median worker grew by far less, just 10.7 percent….

"The pattern was very different from 1948 to 1973, when the hourly compensation of a typical worker grew in tandem with productivity.

"Reestablishing the link between productivity and pay of the typical worker is an essential component of any effort to provide shared prosperity and, in fact, may be necessary for obtaining robust growth without relying on asset bubbles and increased household debt."

40 Years of Economic Policy in One Chart CounterPunch Tells the Facts Names the Names

In the 1970s wages detached from productivity and the richest among us began using their newly acquired wealth to reduce taxes on capital, role back regulations, break unions, "and induce their shady Central Bank buddies to keep interest rates locked below the rate of inflation so they could cream hefty profits off gigantic asset bubbles."

Mission Accomplished?

What happened in 1980?

We made a comittment to supply side economics

Nope advancements in electronics/automation,try again