That's also about when ideas such as JustInTime supply chain
management started coming in vogue, along with an increase in the use
of contingency workers, several other changes along the same lines
that have to do more with management than anything else.
On Oct 10, 2012, at 1:13 AM, Mike Spencer wrote:
About:
http://www.nytimes.com/imagepages/2011/09/04/opinion/04reich-graphic.html
I asked:
me> Nice graphic. Okay, what happened in 1977 or '78, represented by
me> the kink in '79 - '80 and the subsequent downward trend in
me> compensation/wages and the corresponding migration of money
me> upwards in the social strata?
Mike G wrote:
I would hazard a guess that what happened in 1977/78 was that the
productivity impacts of computing began to kick in... Mainframes
were being implemented in the '60's in mega-corps but by the '70's
the smaller but still large companies which probably would benefit
most from the automation of record keeping (for example) were
getting automated with mini-computers.
I mention this Peggy and she suggested that '77 or'78 was when
off-shoring production really got on a roll. Yes, we've had Japanese
and Taiwanese products since the 50s, VW went big on the 60s and so
on. But wasn't it about then than the US began to slack off on
production? Clothing and shoes, electronics, cars and parts for
domestic products, housewares....
Did something significant happen in finance or financeial regulation
about then?
OTOH, I don't know what "productivity" really means beyond the vague
notion of some measure of gross profit or "product" vs. wages and
salaries paid.
- Mike
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