social science production (was: Dark Sides of 'Solidarity'?)

[Richard Marens]

right on!  We are all familar with the stats that compensation has
fallen for decades behind even the relatively tepid growth in
productivity.  Why can't wage pressures be accomodated, as they have in
the past, by increasing productivity, reduced profits, or even low levels
of inflation that would benefit the vast majority of people who are
employees and/or debtors?  Actually, I think we all know the answer.

On Mon, 11 May 1998, Carrol Cox wrote:


> Brad De Long writes:
> 
> and that we are about to see
> > inflation start rising by one percent per year every year, unless the
> > unemployment rate creeps up to 5.5% or higher...
> > 
> > I think there are two chances in three that he is right...
> 
> 
> Wouldn't it be better, when not speaking to a class or a department head
> to say "rising wages" instead of "inflation." In so far as they are the
> same, inflation is definitely a human positive, as it was from 1949 to
> 1974. And the Fed seems to be fairly above board in indicating that it
> equates the two.
> 
> Carrol
> 
>