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Pastimes : Discussion Thread
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To: Oeconomicus who wrote (3641)3/14/2010 3:13:22 AM
From: RMF  Read Replies (1) of 3816
 
You're saying that "flat to falling wages along with higher productivity makes for a pretty good impetus".

My assumption is that "flat or falling wages" in combination with a "higher COST of living" equates to a "LOWER standard of living".

And I think you are just assuming that "higher productivity", right? We can't just assume that 2/3rds of our workforce will be able to achieve a much higher level of productivity any time soon can we?

You may be right that jobs will reappear, but I think a good portion of our populace is going to be "downshifted" out of what we have previously considered the "middle class".
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