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

To: Wharf Rat who wrote (858129)	5/18/2015 1:41:05 PM
From: i-node	Read Replies (2) \| Respond to of 1574005

>> That's a nice meme, but there is no connection between wages and productivity. Why, that's just silly. It is an economic reality that you guys consistently miss: - Productivity is a function of several items besides labor, most notably automation which can increase productivity WHILE decreasing costs. - Hourly compensation is a function of supply and demand, except for the floor set by the minimum wage plus other labor costs (benefits, workers comp, etc.) So, a strong correlation between the two exists, but it isn't a LINEAR correlation and there are multiple variables at work and some of those other variables do NOT correlate positively. For example, capital expenditures on robotics correlate positively with productivity but extremely negatively with hourly compensation, since robotics reduces demand and increases supply. You can increase the minimum wage to $40/hour if you want to. But what you CANNOT do is require employers to hire people they don't need. At least not yet.

To: Wharf Rat who wrote (858129)	5/18/2015 1:55:30 PM
From: TimF	Respond to of 1574005

mungowitzend.blogspot.com ------- Total income for the bottom 90% --- super-economy.blogspot.com the per capita personal income of the Lower and Middle classes is now one and a half time higher compared to 1973, adjusted for inflation. super-economy.blogspot.com Of course the bottom 90% isn't people actually at the bottom. To the extent there is a problem there - http://www.coyoteblog.com/coyote_blog/2015/01/lets-make-employment-of-low-skill-labor-profitable-again.html