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Why would it exclude government enterprises such as the post office? Clearly that involves both labor and capital.
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Try http://wordforge.net/index.php for discussion and debate. -
I think I put my finger on the dynamics with regard to this report. From 2004-2005, real median household income increased 1.1%, a healthy gain. See the following Census report, which was issued last month, and on which that labor thinktank prepared the map. Page 4 (11).
But they can't let Bush tout good news in an election season, so they looked back to 2001 and included the recession in their calculations.
As Adam Smith noted, the report also uses the Consumer Price Index to adjust for inflation. This puts Bush in an unfairly unfavorable light to the tune of about 1% per annum.I came upon a barroom full of bad Salon pictures in which men with hats on the backs of their heads were wolfing food from a counter. It was the institution of the "free lunch" I had struck. You paid for a drink and got as much as you wanted to eat. For something less than a rupee a day a man can feed himself sumptuously in San Francisco, even though he be a bankrupt. Remember this if ever you are stranded in these parts. ~ Rudyard Kipling, 1891Comment
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Empress was right
Economic cycles are more powerful than almost all Presidential actions in influencing the current state of the economy.“It is no use trying to 'see through' first principles. If you see through everything, then everything is transparent. But a wholly transparent world is an invisible world. To 'see through' all things is the same as not to see.”
― C.S. Lewis, The Abolition of ManComment
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No doubt, but this map was used as a political weapon, and therefore needs to be understood in a political context.I came upon a barroom full of bad Salon pictures in which men with hats on the backs of their heads were wolfing food from a counter. It was the institution of the "free lunch" I had struck. You paid for a drink and got as much as you wanted to eat. For something less than a rupee a day a man can feed himself sumptuously in San Francisco, even though he be a bankrupt. Remember this if ever you are stranded in these parts. ~ Rudyard Kipling, 1891Comment
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Did you read the report? You are citing just 2004-2005 data while ignoring the 2001-2004 data. The report specifically said average changes in median income since Bush became President. Please stop picking and choosing only the years you like.Originally posted by DanS
I think I put my finger on the dynamics with regard to this report. From 2004-2005, real median household income increased 1.1%, a healthy gain. See the following Census report, which was issued last month, and on which that labor thinktank prepared the map. Page 4 (11).Try http://wordforge.net/index.php for discussion and debate.Comment
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Bush is a lame duck
I have faith that the next Republican and Democratic candidates will be judged on their own merits.“It is no use trying to 'see through' first principles. If you see through everything, then everything is transparent. But a wholly transparent world is an invisible world. To 'see through' all things is the same as not to see.”
― C.S. Lewis, The Abolition of ManComment
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The recent good news was not highlighted in the report. I was adding this good news to the discussion.Originally posted by Oerdin
Did you read the report? You are citing just 2004-2005 data while ignoring the 2001-2004 data.Last edited by DanS; September 6, 2006, 13:39.I came upon a barroom full of bad Salon pictures in which men with hats on the backs of their heads were wolfing food from a counter. It was the institution of the "free lunch" I had struck. You paid for a drink and got as much as you wanted to eat. For something less than a rupee a day a man can feed himself sumptuously in San Francisco, even though he be a bankrupt. Remember this if ever you are stranded in these parts. ~ Rudyard Kipling, 1891Comment
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2001 - Present
What economic events during this period can really be attributed to Bush actions?
The recession starting in Feb. 2001?
The 9/11 attack?
etc.“It is no use trying to 'see through' first principles. If you see through everything, then everything is transparent. But a wholly transparent world is an invisible world. To 'see through' all things is the same as not to see.”
― C.S. Lewis, The Abolition of ManComment
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Adam Smith
Based upon his analysis, wage growth has closely matched the true labor productivity growth. Who should benefit from the capital productivity growth? Corporate profits?“It is no use trying to 'see through' first principles. If you see through everything, then everything is transparent. But a wholly transparent world is an invisible world. To 'see through' all things is the same as not to see.”
― C.S. Lewis, The Abolition of ManComment
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MEDIAN INCOME UPDATE.... A few days ago I posted a map from the Detroit Free Press showing that median household incomes had dropped in nearly every state between 1999 and 2005. Via Asymmetrical Information, I see that the Freep screwed up: they used a different measure for the 1999 figures than for the 2005 numbers, and that made the decline look worse than it was.
Census figures are here, and while they aren't perfect, they do use the same methodology over time. This doesn't change the main conclusion of the original post, namely that median incomes have dropped even though the economy has been growing, but the drop wasn't quite as bad as it looked. The census figures are below...
KH FOR OWNER!
ASHER FOR CEO!!
GUYNEMER FOR OT MOD!!!Comment
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All productivity is attributed to labor. When labor uses better tools the're productivity increases.Originally posted by Adam Smith
First, the wrong thing is being measured. "Labor productivity" is the growth in output per hour worked. But this attributes all growth in productivity to labor. This is clearly not the case. Computers become more powerful. Manufacturing processes become more energy efficient. These changes should be attributed to capital, not labor. Thus labor productivity overstates the amont of productivity attributable to labor, and hence the compensation we would expect labor to earn.I drank beer. I like beer. I still like beer. ... Do you like beer Senator?
- Justice Brett KavanaughComment
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Originally posted by DanS
Why would I squirm on Poly?
I just call things like I see them.
Use a better lense.
I drank beer. I like beer. I still like beer. ... Do you like beer Senator?
- Justice Brett KavanaughComment
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All productivity is attributed to labor. When labor uses better tools the're productivity increases.
Why should you be paid for the labor-saving widget I made? Why shouldn't I be the one paid for the productivity gain?Comment
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Why don't I just take your widget?Originally posted by Kuciwalker
All productivity is attributed to labor. When labor uses better tools the're productivity increases.
Why should you be paid for the labor-saving widget I made? Why shouldn't I be the one paid for the productivity gain?I drank beer. I like beer. I still like beer. ... Do you like beer Senator?
- Justice Brett KavanaughComment
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You know that isn't how it is. You won't ge tpaid for the labor-saving widget you made.. instead a corporation will be paid for the labor-saving widget you made.. and you will get paid just as much as the other labor.
JMJon Miller-
I AM.CANADIAN
GENERATION 35: The first time you see this, copy it into your sig on any forum and add 1 to the generation. Social experiment.Comment
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