> 10% loss in wages. I guess that's half the story. The other half would
> be what things cost (in real dollars) that you spend those wages on.
"Real" wages are supposed to reflect that, if nominal wages are deflated by the consumer price index.
Doug ****************************************
I'd say that some goods and services are cheaper i.e. take less socially necessary labour time to produce and that's reflected in their average prices e.g. electronic goods like TVs and computers. Other goods might stay more or less stable, like the price of quality housing. I'm not sure whether anything increases like military goods do, like say, the price of fighter jet aircraft over the old P-51--maybe commodified healthcare. Not sure, don't have the figures.
Some figures I'd like to get ahold of though would be measure of real productivity growth, *output per worker measured in constant dollars over this same time period* for both Australia and the USA and any other nation, for that matter. Wooooo-hoooo...that would tell a story about tendencies of rates of profit to fall or rise, rates of exploitation of various national wages systems. If they exist, please tell me what they are, with sources
Cheers, Mike B)
Macht kaputt, was euch kaputt macht! http://www.iww.org/culture/official/preamble.shtml
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