Jim heartfield wrote:
>
> On that score I couldn't help but notice that Cox and Alm's
> demonstration of the increased productivity of labour (showing the
> changing amount of time it takes to earn enough to buy a commodity) goes
> into reverse when measuring a pair of levis:
>
> 1900 9hrs 42
> 1910 9hrs 30
> ...
>
> 1960 2hrs 36
> 1970 2hrs 18
> 1980 2hrs 48
> 1990 2hrs 48
> 1999 3hrs 24
>
> The latest upturn in price, one imagines, a measure not of the declining
> productivity of labour, so much as the artificial inflation of price
> that
> >doesn't increase social wealth
> >in any meaningful sense
>
> --
> James Heartfield
>
> Great Expectations: the creative industries in the New Economy
> is available from Design Agenda,
> 4.27 The Beaux Arts Building,
> 10-18 Manor Gardens,
> London, N7 6JT
> Price 7.50 GBP + 1GBP p&p
-- Michael Perelman Economics Department California State University Chico, CA 95929
Tel. 530-898-5321 E-Mail michael at ecst.csuchico.edu