Wednesday, November 2, 2011 8:12:42 PM
ummm where are the unemployment stats?? not to start an argument but... basic microeconomics tells us that as the average hourly wage increases then unemployment increases as firms are not able to keep as many assets. if the wages rose at the same rate in the first half, yall would be unemployed and americas gdp would be in the poos
Wednesday, November 2, 2011 9:51:24 AM
Emerging technologies is a major factor, no doubt. But the fact that companies lay off employees that are no longer needed (and outsource) while providing more goods and services doesn't make sense with the great gap between productivity and wages. If major corporations save money for having less employees while, at the same time, gaining by producing more, more efficiently, why is it that the value of products continue to rise while a great majority of worker compensation remains pretty stagnant? It`s not a matter of `living beyond means` so much as the cost of living going up. More output, less input, and where`s the difference? Debt.
Wednesday, November 2, 2011 8:37:30 AM
There has been a great deal a automation and applied technologies since 1979. This more than anything may lead to income disparities. Businesses are doing more with less. Think about that next time you choose a self checkout at the grocery store.