Harry Guerrilla
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- Dec 18, 2008
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This is backwards logic. Safer working conditions and improvements in technology make workers more productive. Economists, politicians, and pundits have been claiming for years that a good way to increase wages is to increase labor productivity. Even when we tease out the capital and technological productivity changes during the last couple of decades, labor productivity has overall increased.
Wages and compensation stagnating: | State of Working America
View attachment 67116853
Productivity Growth by Major Sector, 1947-2010. Bar Chart
I didn't say that it doesn't.
I'm saying that, income does not automatically increase at the same consistent rate and that assuming income should of increased to X is meaningless.
The cost of doing business has increased from some regulation and competition from firms employing cheaper labor, automation, and ergonomics is more widely present
I never argued against this point and didn't even know we were discussing it. Do you want to interject anymore strawmen and irrelevant information into this conversation?
Just heading you off at the pass.
Some others here like to make this argument, without any evidence.
You are obviously going to believe what you want, despite overwhelming evidence that shows that the average laborer is becoming more productive, but wages have been severely lagging and roughly stagnant since 1964. You are unable to fully explain the differences with health insurance and $401k contributions.
View attachment 67116854
Notice: Data not available: U.S. Bureau of Labor Statistics
Wage growth does not come at a consistent rate.
The "overwhelming evidence" fails to include increases in government transfer payments and untaxed benefits as compensation.
It also fails to include the changes in average household sizes.
The data has been cherry picked, in order to make point of a problem that doesn't exist.