Productivity-income gap ; Engel's pause

[CultureCitizen]

The current productivity / income gap is an echoes an event which had already occured in the past. The event is called Engel's pause by economist Robert C. Allen.

"The surge in inequality was intrinsic to the growth process: technical change increased the demand for capital and raised the profit rate and capital’s share. The rise in profits, in turn, sustained the industrial revolution by financing the necessary capital accumulation. After the middle of the 19th century, accumulation had caught up with the requirements of technology and wages rose in line with productivity."

The pause lasted roughly 50 years ( I guess that's what economist call "long run" ) .
Will the current situation be fixed by the market "in the long run" as it was fixed in the past ?
In this case the salary stagnation might last another 25 years.
Or, are we facing a very different situation with a dramatically different increase in productivity , and in all likelihood the market will not self correct this situation.

Share your thoughts ( and your links ).

Today s Economic History Robert Allen Engels s Pause

 

[EdwardBaiamonte]

The current productivity / income gap is an echoes an event which had already occured in the past. The event is called Engel's pause by economist Robert C. Allen.

"The surge in inequality was intrinsic to the growth process: technical change increased the demand for capital and raised the profit rate and capital’s share. The rise in profits, in turn, sustained the industrial revolution by financing the necessary capital accumulation. After the middle of the 19th century, accumulation had caught up with the requirements of technology and wages rose in line with productivity."

The pause lasted roughly 50 years ( I guess that's what economist call "long run" ) .
Will the current situation be fixed by the market "in the long run" as it was fixed in the past ?
In this case the salary stagnation might last another 25 years.
Or, are we facing a very different situation with a dramatically different increase in productivity , and in all likelihood the market will not self correct this situation.

Share your thoughts ( and your links ).

Today s Economic History Robert Allen Engels s Pause

dear, the surge in inequality is caused by the liberal attack on and destruction of the family and public schools. Its also caused by liberal economic policies that shipped 50 million good jobs to China and India.
Do you as a typical liberal have the IQ to respond??

 

[EdwardBaiamonte]

In this case the salary stagnation might last another 25 years.

or forever if liberals keep inviting Mexicans in to compete for our jobs and lower the wages of those jobs.

Over your head?? See why we say a liberal will be slow?

 

[TheOldSchool]

If those responses don't prove to all that EBaiamonte's a typical partisan moron, then I don't know what will.

 

[Moonglow]

If those responses don't prove to all that EBaiamonte's a typical partisan moron, then I don't know what will.

The same reason his books didn't sell well...

 

[TheOldSchool]

If those responses don't prove to all that EBaiamonte's a typical partisan moron, then I don't know what will.

The same reason his books didn't sell well...

He's a bloviating moron. The "destruction of the family and public schools..." Gimme a break. And in the next breath he'll praise China and not mention the destruction of Chinese families through the child limit policy and deficit of women, and their socialism-on-steroids public schools. Good grief.

 

[Moonglow]

If those responses don't prove to all that EBaiamonte's a typical partisan moron, then I don't know what will.

The same reason his books didn't sell well...

He's a bloviating moron. The "destruction of the family and public schools..." Gimme a break. And in the next breath he'll praise China and not mention the destruction of Chinese families through the child limit policy and deficit of women, and their socialism-on-steroids public schools. Good grief.

What they refuse to acknowledge is this period of history has the wealthy being greedy and not sharing the wealth...

 

[kiwiman127]

If those responses don't prove to all that EBaiamonte's a typical partisan moron, then I don't know what will.

The same reason his books didn't sell well...

He's a bloviating moron. The "destruction of the family and public schools..." Gimme a break. And in the next breath he'll praise China and not mention the destruction of Chinese families through the child limit policy and deficit of women, and their socialism-on-steroids public schools. Good grief.

But, but, but China reduced world poverty by 40%!

 

[EdwardBaiamonte]

The current productivity / income gap is an echoes an event which had already occured in the past. The event is called Engel's pause by economist Robert C. Allen.

"The surge in inequality was intrinsic to the growth process: technical change increased the demand for capital and raised the profit rate and capital’s share. The rise in profits, in turn, sustained the industrial revolution by financing the necessary capital accumulation. After the middle of the 19th century, accumulation had caught up with the requirements of technology and wages rose in line with productivity."

The pause lasted roughly 50 years ( I guess that's what economist call "long run" ) .
Will the current situation be fixed by the market "in the long run" as it was fixed in the past ?
In this case the salary stagnation might last another 25 years.
Or, are we facing a very different situation with a dramatically different increase in productivity , and in all likelihood the market will not self correct this situation.

Share your thoughts ( and your links ).

Today s Economic History Robert Allen Engels s Pause

The current productivity / income gap is an echoes an event which had already occured in the past. The event is called Engel's pause by economist Robert C. Allen.

"The surge in inequality was intrinsic to the growth process: technical change increased the demand for capital and raised the profit rate and capital’s share. The rise in profits, in turn, sustained the industrial revolution by financing the necessary capital accumulation. After the middle of the 19th century, accumulation had caught up with the requirements of technology and wages rose in line with productivity."

The pause lasted roughly 50 years ( I guess that's what economist call "long run" ) .
Will the current situation be fixed by the market "in the long run" as it was fixed in the past ?
In this case the salary stagnation might last another 25 years.
Or, are we facing a very different situation with a dramatically different increase in productivity , and in all likelihood the market will not self correct this situation.

Share your thoughts ( and your links ).

Today s Economic History Robert Allen Engels s Pause

What a surprise that our resident libcommie wants us to consider the work of Marx and Engels.

 

[TheOldSchool]

If those responses don't prove to all that EBaiamonte's a typical partisan moron, then I don't know what will.

The same reason his books didn't sell well...

He's a bloviating moron. The "destruction of the family and public schools..." Gimme a break. And in the next breath he'll praise China and not mention the destruction of Chinese families through the child limit policy and deficit of women, and their socialism-on-steroids public schools. Good grief.

What they refuse to acknowledge is this period of history has the wealthy being greedy and not sharing the wealth...

No what they don't realize is that there are now hundreds of millions of people in this country and more and more jobs become automated and shipped overseas every year. That's why we need to invest in new technologies, which conservatives are terrified of, and making it worthwhile for people to manufacture and build things in this country again.

 

[EdwardBaiamonte]

But, but, but China reduced world poverty by 40%!

who cares about that-right?? Better to let another 60 million slowly starve to death than lose face admitting how deadly you and liberalism are.

 

[TheOldSchool]

But, but, but China reduced world poverty by 40%!

who cares about that-right?? Better to let another 60 million slowly starve to death than lose face admitting how deadly you and liberalism are.

See there he goes.

 

[EdwardBaiamonte]

The current productivity / income gap is an echoes an event which had already occured in the past. The event is called Engel's pause by economist Robert C. Allen.

"The surge in inequality was intrinsic to the growth process: technical change increased the demand for capital and raised the profit rate and capital’s share. The rise in profits, in turn, sustained the industrial revolution by financing the necessary capital accumulation. After the middle of the 19th century, accumulation had caught up with the requirements of technology and wages rose in line with productivity."

The pause lasted roughly 50 years ( I guess that's what economist call "long run" ) .
Will the current situation be fixed by the market "in the long run" as it was fixed in the past ?
In this case the salary stagnation might last another 25 years.
Or, are we facing a very different situation with a dramatically different increase in productivity , and in all likelihood the market will not self correct this situation.

Share your thoughts ( and your links ).

Today s Economic History Robert Allen Engels s Pause

What is especially stupid about the lib commies Marx and Engels is the claim the capital took from labor to finance the industrial revolution.
Its 100% absurd given that there is no point in an industrial revolution unless everyone can buy the new products. Thus, the more capital gets the less labor can afford and the less capital is needed. Therefore, capital always shares equally with labor. If Marx and Engels had know that 120 million souls would not have starved to death very very slowly.

 

[TheOldSchool]

If those responses don't prove to all that EBaiamonte's a typical partisan moron, then I don't know what will.

The same reason his books didn't sell well...

Read the reviews sometime if you want some cheap laughs.

 

[CultureCitizen]

dear, the surge in inequality is caused by the liberal attack on and destruction of the family and public schools. Its also caused by liberal economic policies that shipped 50 million good jobs to China and India.
Do you as a typical liberal have the IQ to respond??

Dear,
For once , I will ask you to stop spamming the thread. I posted it to get ideas on the differences between the current situation and the situation that happened 2 centuries ago. Not to read your endless right wing gibberish.
If you want to take the time to analyze ,do some research and debate based on evidence please feel welcome to post. Otherwise please stop your spam attack.

 

[Moonglow]

If those responses don't prove to all that EBaiamonte's a typical partisan moron, then I don't know what will.

The same reason his books didn't sell well...

Read the reviews sometime if you want some cheap laughs.

I did.....nothing any different than what he post here...

 

[TheOldSchool]

The current productivity / income gap is an echoes an event which had already occured in the past. The event is called Engel's pause by economist Robert C. Allen.

"The surge in inequality was intrinsic to the growth process: technical change increased the demand for capital and raised the profit rate and capital’s share. The rise in profits, in turn, sustained the industrial revolution by financing the necessary capital accumulation. After the middle of the 19th century, accumulation had caught up with the requirements of technology and wages rose in line with productivity."

The pause lasted roughly 50 years ( I guess that's what economist call "long run" ) .
Will the current situation be fixed by the market "in the long run" as it was fixed in the past ?
In this case the salary stagnation might last another 25 years.
Or, are we facing a very different situation with a dramatically different increase in productivity , and in all likelihood the market will not self correct this situation.

Share your thoughts ( and your links ).

Today s Economic History Robert Allen Engels s Pause

So many jobs are becoming automated these days that the gap may never close. There will have to be some whole new sets of demands that need to be met to create jobs that we possibly can't even imagine right now.

 

[EdwardBaiamonte]

dear, the surge in inequality is caused by the liberal attack on and destruction of the family and public schools. Its also caused by liberal economic policies that shipped 50 million good jobs to China and India.
Do you as a typical liberal have the IQ to respond??

Dear,
For once , I will ask you to stop spamming the thread. I posted it to get ideas on the differences between the current situation and the situation that happened 2 centuries ago. Not to read your endless right wing gibberish.
If you want to take the time to analyze ,do some research and debate based on evidence please feel welcome to post. Otherwise please stop your spam attack.

Dear, you were too stupid and liberal to follow. I explained how it is impossible for capital to take from labor. Why not comment on that or admit with your silence or attempts to change the subject you lack the IQ to be here?

 

[TheOldSchool]

dear, the surge in inequality is caused by the liberal attack on and destruction of the family and public schools. Its also caused by liberal economic policies that shipped 50 million good jobs to China and India.
Do you as a typical liberal have the IQ to respond??

Dear,
For once , I will ask you to stop spamming the thread. I posted it to get ideas on the differences between the current situation and the situation that happened 2 centuries ago. Not to read your endless right wing gibberish.
If you want to take the time to analyze ,do some research and debate based on evidence please feel welcome to post. Otherwise please stop your spam attack.

Might I suggest the ignore function?

 

[EdwardBaiamonte]

[ the differences between the current situation and the situation that happened 2 centuries ago.

dear, there is no difference as I explained to you, capital can't take from labor, and labor cant take from capital. You're Marxist friends misunderstood and slowly starved 120 million death. Why not hitch your wagon to the Nazis? Its more defensible isn't it??