Perhaps for this reason, the wage/productivity chart has been under attack, with economists and pundits trying to explain away the gap as something not fundamental to our economic story. But Mishel, the originator of the chart, is pushing back, arguing that critics “are denying reality through technical arguments and sleight of hand.” The key point, Mishel says, is that “economic policy cannot be reduced to being about more growth or productivity… they also have to be accompanied by policies that reconnect them to rising wages and benefits for the vast majority.”

War:

I don't understand the logic behind lower wages, but more production. Who are you producing for if everyone is poor? The whole focus on these minor short-term gains is ludicrous to me. I mean I don't have access to any real numbers, but I'm gonna make a wild guess that when people have more money in their pockets they are more likely to spend it...

posted 3189 days ago