Miles Jackson wrote:
>
> On Thu, 20 May 2004, John Lacny forwarded:
>
> > Adjusted for inflation, average hourly wages for non-farm workers,
> > excluding managers and executives, rose 25 cents, to $15.35, between
> > 2001 and 2003. That equates to an annual increase of less than 2
> > percent, or below the rate of inflation.
>
> Huh? If the wages are adjusted for inflation, then wage growth is
> a bit faster than inflation growth, right? This makes it
> sound like wages aren't keeping up with inflation.
>
> In any case, some great info for my sociology courses.
>
> Miles
>
>
Of course, taking the subject line literally, that low a rate of surplus value would indicate a profit rate so low we would be in a depression that would make the '30s seem paradise! :-)
Carrol