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You can slice it any way you want, the preponderance of evidence points to median and average wages both trailing productivity in the long run. Arguments about
by jbooth 13y ago
You can slice it any way you want, the preponderance of evidence points to median and average wages both trailing productivity in the long run.
Arguments about short-run volatility that don't address this fact are hand-wavy.
- yummyfajitas 13y agoWhy would productivity be related to wages? To put it concretely, if I replace 4/5 workers with a small shell script, does that mean the 5'th worker deserves a pay raise? (For the sake of argument, say his work and output has not changed at all.)
- jbooth 13y agoIf you're working there, it would be a case of the 6th worker, you, replacing 4/5 of his peers with a shell script. Would you deserve a raise? If you're being anecdotal, you can justify whatever you want. In the aggregate, wages have lagged productivity, corporate profits have skyrocketed while US wages have stagnated relative to inflation.