Wage Growth Has not Matched Productivity Growth

Discussion in 'Economy' started by Toro, Mar 16, 2011.

  1. Toro
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    Toro Diamond Member

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    Over time, wage growth should reflect productivity growth. However, that has not happened over the past 20 to 30 years.

    The sad but true story of wages in America

    The one caveat I would note is that wages are one component of compensation. Benefits are the other. I believe that benefits, particularly medical, have increased at a faster rate of productivity growth thus making up at least part of the difference, though I have not confirmed that
     
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    Last edited: Mar 16, 2011
  2. Oddball
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    Oddball BANNED Supporting Member

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    Wages are almost always the last thing to come up.

    I can tell you, though, that there are contractors and sub-contractors out there practically giving it away and it's killin' me.
     
  3. william the wie
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    william the wie Gold Member

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    Went to check on an old friend tonight at a place I rarely visit due to three years of road construction. While I was there I ran into a girl who used to run the snack bar. She is going to college to get a BA in psych. I asked if she was going to stay at Target given the employment rate for psych majors. She said no she was going for her JD. How is productivity going to increase if people waste time and money getting such useless degrees?
     
  4. skeptic
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    skeptic BANNED

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    well if this analysis didn't include the value or cost of benefits it is useless and intended to mislead.

    What's new?
     
  5. code1211
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    code1211 Senior Member

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    This is a transition. Americans, compared to the rest of the world, have been overpaid since the 50's. As the rest of the world industrializes, the wage rates elsewhere will rise and the result will be a buoying of the American Wage Rates.

    It won't happen during my career.

    However, the rise of middle classes and the rise of open and free, unregulated communication will homoginize the thinking of the world. The "huddled masses" yearning to breath free are still there, but now the dream is being brought to them as opposed to them needing to search it out.

    The uprisnings around the Middle East are not a coincidence. They are a result. Kings ruling as individuals are ornaments of a past that no longer exists. Unless the despot is willing to lay low 40,000 subjects, he will be overthrown. If he does this and the flame continues to burn, the only question is whether or not the army will support him next time.

    As long as there is an internet, facebook and twitter, the flame will continue to burn.

    In 1900, there were 4 democracies in the world. Today, about 81. Some are shakey and some are imperfect. More than half of these rose with the internet.

    Democracy and Capitalism are partners. Freedom to choose and freedom to achieve are inseperable. If we can avoid global thermal nuclear war long enough, we will soon all be trading partners and it will no longer be a viable option to wage war.

    It would be like Michigan going to war with Ohio. Okay. Bad example. But you get the point.

    Democracies of the World
    http://www.economist.com/media/pdf/DEMOCRACY_TABLE_2007_v3.pdf
     
  6. skeptic
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    skeptic BANNED

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    On the bright side the earnings of the wealthiest 1% are ROCKING!
     
  7. skeptic
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    skeptic BANNED

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    is this a mere coincidence or did half of all democracies evolve because of the internet?

    I am pretty positive it is a coincidence.

    I am not even convinced yet that even one of the twitter revolutions in the ME will succeed. The internet can be turned off. And guns are still more powerful than butter.
     
  8. Toro
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    Toro Diamond Member

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    Send them my way. We're doing major renos.
     
  9. Trajan
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    Trajan conscientia mille testes

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    mid 90's my company declared a new medical pension fund as part of TC.
    Every year of service they would calculate .5% of your salary per year, at end of service, they added a full match ( if over 15 years) of what the total accrual.

    You had to direct it towards a medical plan purchase. I figured, if I had stayed I would have had enough to pay the full cost for the same coverage for 8 years, or half for 16 etc....not bad. Of course the drawback is obvious...;)
     
    Last edited: Mar 16, 2011
  10. Trajan
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    Trajan conscientia mille testes

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    yes, I am wondering how they would be able to say, calculate peoples profit sharing acct's.? Do co's voluntarily give them a base figure per year for say profit sharing or 401k matches etc...or stock discounts? Options?

    I have to say maybe I am just unusual in this sense but, my income (gross) literally multiplied 2.5 times between 95 and 2010 and I know many who can make the same claim or close to it....... ...:eusa_think:curiously my take home was only at 1.5....hummmmmm:rolleyes:
     

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