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Thawing. We might soon have some real economic debate in this country.
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Thawing. We might soon have some real economic debate in this country. -
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A safe and Merry Christmas to all !“Outside of a dog, a book is a man's best friend. Inside of a dog, it's too dark to read.” - Groucho MarxComment
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Hack, the premise of the Bloomberg article is that globalization has worsened wage inequality. It hasn't. In fact, it has improved income distributions globally. Hans Rosling.
https://www.businessinsider.com/hans...-chart-2013-11
My view is that the US model of labor unions dealt a severe blow to the US auto industry in the early 70's by inflating auto workers wages and benefits well beyond what was sustainable. That set the stage for Chrysler's near bankruptcy in 1979, rescued by the Carter administration, and it's forced bankruptcy and acquisition by Fiat during the Obama administration in 2009.
I'm not a "union man" as we know them in the US but, I think the concept of labor organizing and collectively negotiating with management for wages and benefits is something to consider. This has more to do with fairness and maintenance of a living wage given country and industry specific economic circumstances than it does with correcting claims of wage inequality that don't exist. It just has to be done way differently than the US model, which IMO, is dead.
The approach that could work is one that abandons typical enterprise level unionization and embraces sectoral bargaining. When the state of NY, for example, went about establishing a $15/h minimum wage for an entire industry of Fast Food workers in 2013, that was an example of sectoral bargaining. Other states have acted similarly and more recently.
https://www.vox.com/policy-and-polit...fight-15-ghentMission to CFB's National Championship accomplished. But the shine on the NC Trophy is embarrassingly wearing off. It's M B-Ball ..... or hockey or volley ball or name your college sport favorite time ...... until next year.Comment
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Mission to CFB's National Championship accomplished. But the shine on the NC Trophy is embarrassingly wearing off. It's M B-Ball ..... or hockey or volley ball or name your college sport favorite time ...... until next year.Comment
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Things are never as bad as they appear to be. I've been through three brutally down markets in my investing/savings history: 1987, 2002, 2008. It was always tempting to "do something." Instead, I just stayed put, continued to save and invest regularly and was rewarded each time. I'm not telling anyone who watches their savings seriously doesn't already know. I'm only reaffirming it.
Mission to CFB's National Championship accomplished. But the shine on the NC Trophy is embarrassingly wearing off. It's M B-Ball ..... or hockey or volley ball or name your college sport favorite time ...... until next year.Comment
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Merry Christmas, everybody.
Here's a tremendous and totally joyous message from muh President! Enjoy!
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Good grief, the guy is a fucking jackass.I feel like I am watching the destruction of our democracy while my neighbors and friends cheer it onComment
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At this rate, even assuming MAJOR bias on the part of the Daily Beast -- I still wonder if it was edited to his benefit; eliminating the non-salient meandering.Originally posted by Dr. Strangelove View PostComment
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I don't know what you mean, Jeff. My point is that its great that economic discussion in the US may be finally maturing into something more comprehensive, in which more of it's thinkers are represented. When it says that "economists" are starting to suspect that collective bargaining can be a good thing, that really just refers to the type of economists we have been willing to listen to, which is just a subset of the whole.
As for Rosling, well, that distribution is basically the rose of China. So the next step is going to be capital controls if we want decent job prospects. It wasn't only the unions that killed American corporations in the 70s. It was the wider competitive landscape that pursued comparative advantage to its logical end. Now, almost every constituency worldwide is now pushing back against the borderless economy. The only ones that aren't now are basically China, multinationals, and tax havens.Comment
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So, you're saying that the billions of employed Chinese have shifted income distribution favorably and that occurrence in China - and hence the favorable affect on Rosling's factual income distribution curve - is a result of the kinds of capital controls one might find in centrally controlled economies like communist China? I think that's what you are saying, maybe not. If so, I can see how it could be and therefore your point is valid but I'd need to see some data to support your view of the rose of China on Rosling's view of improving global income distribution.
.... and of course there were other factors besides unions that wreaked havoc in the US auto industry in the late part of the 20th century and very early stages of the 21st. The point is that unions asked for wages and benefits for autoworkers that were unsustainable - you can argue that the unions were then as greedy as folks are accusing corporate management to be now. There is middle ground between labor and management and here in the US we are really shitty in finding that spot - why is another discussion.
The points I wished to make in my post were (1) Wage inequality, a clarion call of the left, is less of a problem in a global economy - push back or not against globalization (you called it the boarderless economy) - than I believe it is made out to be by anti-globalists. Then I went on to offer this as a potentially realistic way to lessen the impact of low wages, i.e., moving population groups out of Rosling's levels 2 and 3 to levels 3 and 4. ........(2) The larger issue, it seems to me, is obtaining regional living wages - those living wages being widely variable (one size does not fit all). The way to address the need for living wages - those wages determined by the economic circumstances of a specific region/nation or economy within it - is sectoral bargaining as opposed to enterprise unionization.Mission to CFB's National Championship accomplished. But the shine on the NC Trophy is embarrassingly wearing off. It's M B-Ball ..... or hockey or volley ball or name your college sport favorite time ...... until next year.Comment
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Helping keep his facts straight.
“Outside of a dog, a book is a man's best friend. Inside of a dog, it's too dark to read.” - Groucho MarxComment
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“Outside of a dog, a book is a man's best friend. Inside of a dog, it's too dark to read.” - Groucho MarxComment
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