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Strategies & Market Trends : Booms, Busts, and Recoveries -- Ignore unavailable to you. Want to Upgrade?

To: Don Lloyd who wrote (19493)	6/6/2002 6:34:28 PM
From: Maurice Winn	Read Replies (2) \| Respond to of 74559

Don, whatever the length of the monetary measuring stick, the unskilled workers have less to offer so their relative pay goes down. Whether it goes down by way of others getting a pay boost and they stay the same or go up only slowly, or whether they go down while others stay the same, it's not much different. Whatever their pay rate, they can buy a lot more with it. Calculators didn't exist not long ago and then they cost a fortune and now they cost even the lowest paid only a few hours work. The main issue about money is that it should retain a more or less constant length as a universal measuring stick. It doesn't matter if a bit is taken by way of inflation [those running the money supply want to be paid for their efforts, same as with any business and they want to be paid what the market will bear, which is also fair enough]. The normal measure is a basket of goods and services. A better measure would be the average human 'hourly rate'. Uncle Al could measure the global average hourly rate and set the dollar as being = 1 hour of time from the average human. Making it a global measure is reasonable because the US$ is a global currency and he needs to keep it steady in an international sphere, not just against US humans. US$1 = 1 hour. Sounds fair enough to me and that would give US$2000 per year which is not all that far away from the current global average pay rate. <This is likely to mean that the lower skilled workers are the ones impacted, even assuming that their jobs have not already been forced overseas> It's time to forget about the jobs going overseas business. It's a global economy. As always, it's tough at the bottom of the heap and evolution does most of its cruel work there, though the real value is created at the top of the heap and that's where evolution does it's most valuable work. People are working on defeating nature and the sooner the better. Cloning is underway. CDNA not far behind. CDMA will be the data highway. Mqurice