2 Comments:

• Stunning. Absolutely stunning. And yet, utterly unsurprising.
  
  Random thoughts:
  
  - I did a quickie calculation: I was hired three years after getting my Ph.D. for an inflation-adjusted salary half that of my father in a comparable field, comparable university 30 years ago.
  
  - I wonder if the boom of the 90s, mostly wiped out in 2000-2002, helped hide the growing disparity in wealth. People didn't notice it because their fortunes on paper were shooting up.
  
  - Do you think really think union-driven wage gains echo in non-unionized industries? E.g. if auto workers, teamsters, and so on got big wage increases, would that (pardon) trickle over to, say, retail employees? I'm not entirely sure that I buy that argument.
  
  - This makes me think that banning ALL corporate contributions to campaigns and PACs would be a reasonable idea.
  
  - It amazes me how the GOP is able to convince people to vote against their own economic self-interest.
  
  - It's hard to see how to reverse the inequality trend. Raising the minimum wage and increasing estate/capital gains taxes seem a good way to start, but I wonder if they are even politically feasible anymore.

  By  sheepish, at 6:34 PM  

• 1) That's about the size of it.
  
  2) No. Most of the asset inflation caused by the internet bubble was concentrated at the top. The broad-based income gains were because of a very tight labor market and friendly government policy.
  
  3) It does when you have to bid for the same pool of workers. So unions in manufacturing drive up wages in all manufacturing. It's not going to spill over the retail unless you finally unionize Walmart and Target.
  
  4) Banning corporate contributions and PACS won't solve the problem because over half the contributions are in the form of donations by wealthy individuals. I've said it so often it's boring, but we need public financing.
  
  5) Hey man, change the subject to "identity" issues or national security - in other words, get people to either fear or hate something - and you can get away with a lot.
  
  6) Undo the massive tax cuts to the wealthy, foster labor unions. Just 2 things I can think of that would help a lot.

  By  Arbitrista, at 9:13 PM  

Post a Comment
<< Home