[lbo-talk] question for DanDav - or anyone else?

[michael perelman]

*The story that they tell is that many low-wage workers merely lack the 
necessary skills for a modern economy.   So that the productivity of 
these workers declines because their skills are obsolete.  You can punch 
holes in this story pretty easily, but not in 10 second sound bites.*

Seth Ackerman wrote:


> Doug Henwood wrote:
>
>> If you're a bourgeois economist, you'd say it's the productivity 
>> miracle. If you're tinted pink or red, you'd say you'd say capital is 
>> strong and labor is weak. In either case, almost all the gains of 
>> economic growth have gone to profits and the very upper crust of 
>> individuals (whose incomes are mostly returns to capital).
>
>
> If you're a bourgeois economist, you'd say aggregate wage growth = 
> average labor productivity growth. But that isn't happening. Do they 
> have something to explain this divergence from the textbook?
>
> Seth
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-- 

Michael Perelman
Economics Department
California State University
michael at ecst.csuchico.edu
Chico, CA 95929
530-898-5321
fax 530-898-5901