4 ms·
"Productivity has fallen" Yeah that appears to happen when you inflate the money supply yet continue to measure in productivity using cash paid in devalued fun
by bugsy 15y ago
"Productivity has fallen"
Yeah that appears to happen when you inflate the money supply yet continue to measure in productivity using cash paid in devalued funny money. Prices in funny money are inflating by over 30% a year right now so of course salaries have to go up to prevent the hapless workers from starving. Productivity is doing great though in terms of real money such as gold, where the cost of labor has dropped significantly.
The article conveniently avoids discussing that and distorts other relevant information. For example, when they say "The United States spends more per capita on health care than any other country, yet without producing measurably superior results.", it is pretty misleading since it suggests results are comparable despite the high spending. It should instead read "while producing measurably inferior results compared to nearly all modern economies".