5liceOfLife (November 30, 1999 at 12:00 am)

@donkiddick08 Well the charts I posted show real wages. The title of the first chart is: Nonfarm Business Sector: *REAL* Compensation Per Hour, and the title of the second is: Manufacturing Sector: *REAL* Compensation Per Hour. Also you can see that the chart (vert. axis) is not in dollars but is indexed for 2005. I have not made up these charts, it is the FED-s own data. If "Real Compensation Per Hour" does not mean real wage than I am wrong, but otherwise...

donkiddick08 (November 30, 1999 at 12:00 am)

@5liceOfLife he means 'real wages' (adjusted for inflation. what an hour of labour bought you then and now.)

5liceOfLife (November 30, 1999 at 12:00 am)

I was wandering based on what did Wolff conclude that real wages are stagnating (flat) after the 1970. Here I have some data from the St Louis fed that shows that real wages are linearly rising even after the 70. Check out this: goo.gl / bP0gi and this: goo.gl / Vb3ol I had trouble posting the links so please remove the spaces to follow them.

5liceOfLife (November 30, 1999 at 12:00 am)

I can not post links within my messages?

rubenuclear (November 30, 1999 at 12:00 am)

@carsearch2001. you dont have to give more money to the bathroom. simply everybody has to to do a piece of the unwanted job.

GainesvilleNews (November 30, 1999 at 12:00 am)

Capitalism requires a defacto Ponzi scheme of population growth beyond what the planet can eventually sustain. Increasing global resouce scarcity is ending the usefullness of population growth as a capitalistic profit model. Collectivisim is taught to be a dirty word except where conservatives use it successfully in places like silicon valley. If we are lucky enough to avoid nuclear self-destruction new economic models will necessarily thrive on population stabilization or even reduction.

ComradePaine (November 30, 1999 at 12:00 am)

@pretorious700 No you don't get it. You lack a class-based analysis of society and without this you will not understand anything this man is saying.

gmwonder (November 30, 1999 at 12:00 am)

Gotta love all the people here claiming "he doesn't get it", the dude is a professor of economics with an heterodox view on the subject matter (extremely rare from an economist). Who are you? Just because you took a economics class in high school or community college doesn't mean you have an idea of what is going on.

XpEAnUTBuTtERsUckSX (November 30, 1999 at 12:00 am)

Ok he is basically correct, but he fails to mention what happened during the 70's, Breton woods e.c.t, the dollar has lost tremendous amounts of it's value since it's last link to gold was severed, inflation theory couple'd with what he is saying essentially spells out why the middle class is shirking, unemployment is rising though profits are better than ever.

XpEAnUTBuTtERsUckSX (November 30, 1999 at 12:00 am)

This guy is horrifically ignorant, being well read is dangerous, you need to know everything.