3 ms·
Notice though that the FRED blog post does not explain away the discrepancy but merely mitigates it a bit. Note the decoupling still starts in the 70s. The gr
by skhunted 2y ago
Notice though that the FRED blog post does not explain away the discrepancy but merely mitigates it a bit. Note the decoupling still starts in the 70s. The great wealth disparity that exists today started at the same time. I don’t believe this is a coincidence.
- ethbr1 2y ago"A bit" is imprecise for the adjustment. I'd say more than a bit. It also suggests that if you dice it up by sector you might get different amounts of decoupling, which makes logical sense given productivity gains aren't equally spread.
- skhunted 2y agoSure. But in general there was no decoupling prior to 1970 and there is now decoupling. There has been wealth extraction from labor. That it is more prominent in some sectors than others is not too relevant in my opinion.
- ethbr1 2y agoYou seem to be looking for facts to support your argument, instead of being curious about what the facts are.
- skhunted 2y agoThe fact is that the FRED blog post shows there is decoupling starting at 1970 and they give an analysis about this to show isn’t as bad as it seems. But this analysis shows that there is still a decoupling that starts at 1970. I don’t think one can credibly believe that there hasn’t been massive wealth extraction from labor the past 40 years.