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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: combjelly who wrote (317659)12/27/2006 4:14:03 PM
From: TimF  Respond to of 1575380
 
Perhaps but what about the rest of my paragraph?

"And if it did fall off a cliff during those years, then it hardly makes sense to use that fact to bash Bush, or even Reagan. Maybe you could blame the oil embargo, Nixon's wage and price controls, the loose money and inflation of the 70s, Carter's policies, whatever, but it wouldn't have much to do with Krugman's targets. The observed reduction (if it was observed at all) happened in a small part of the whole range of years Krugman mentions. If income has risen across the board since 1979 but it fell off a cliff in the 70s, then Krugman should reasonably talk about how if fell off the cliff during the 70s. But he'd rather attack Republican presidents."



To: combjelly who wrote (317659)12/27/2006 6:50:47 PM
From: TimF  Respond to of 1575380
 
Real wages, real compensation, and/or real income may well have declined from 1973 to 1979, but I doubt very much that they fell off a cliff. I doubt there was a double digit drop during those 6 years. Perhaps a smaller drop, likely at least no serious increase, but that's not falling off a cliff.


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