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Or... switching to a fiat system enabled the economy to expand faster than labor policy (minimum wage, maximum work week) has been able to keep up, enabling tho
by colanderman 6y ago
Or... switching to a fiat system enabled the economy to expand faster than labor policy (minimum wage, maximum work week) has been able to keep up, enabling those at the top to exploit the gains.
Ignoring that half those graphs are just arrows pointing to arbitrary knees in exponential functions, I couldn't find this one which, unlike most on that page, directly graphs an ongoing policy choice, minimum wage vs. productivity: https://i0.wp.com/chicagopolicyreview.org/wp-content/uploads/2020/08/MW-Productivity-copy-1.jpg https://i0.wp.com/chicagopolicyreview.org/wp-content/uploads...
- spiralx 6y agoIf you want a long debunking of that graph then read this: https://economicsfromthetopdown.com/2020/01/17/debunking-the-productivity-pay-gap/ https://economicsfromthetopdown.com/2020/01/17/debunking-the...