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They didn't make the rising tide analogy, I read it as how much could be captured by labor if we increased leverage. In any case, it doesn't follow that wages
by 9x39 4mo ago
They didn't make the rising tide analogy, I read it as how much could be captured by labor if we increased leverage.
In any case, it doesn't follow that wages grow with earnings. Wages have historically been a lagging indicator.
- vannevar 4mo ago>They didn't make the rising tide analogy, I read it as how much could be captured by labor if we increased leverage. Fair point, though it's not completely clear from the comment. >Wages have historically been a lagging indicator. Of course, companies don't know in advance that they're going to have GDP-assisted growth. My point was that growth on the back of GDP growth is a collective windfall, and you'd expect it to be evenly distributed. But it clearly isn't.