,At 19:44 19/11/2012, Ed wrote:
The period from aprx. 1950 to 1975 was indeed a golden age. Easy to get jobs and promotions. Not too difficult to buy a nice house and even put a full-sized pool in the backyard so that you and the kids could have a swim.

(KH) In retrospect, this was an unreal situation. Towards the latter end of that period I worked for a multi-national and wages and salaries there were leaping upwards -- seemingly two or three times a year! This was also the period when the credit card was being introduced and the financial sector started taking final leave of its senses (with governments turning a blind eye) with increasingly lavish credit.

(EW) Not at all like that now. People in the public service anxiously wondering if they'll keep their jobs. I know a couple of people on whom the axe has already fallen.

(KH) Well, that evens things up a bit. Over here in the UK, public service employees earned 20% more than people in equivalent jobs in private jobs for many years. Furthermore, the former not only had more generous pensions but they were index linked. As advanced governments proceed from 'technical bankruptcy' (as they are already) to real bankruptcy then the respective plights of their employees and pensioners will be similar in the years to come. I wouldn't be surprised if much the same has applied, and will apply, in Canada and America. Ed, just consider yourself lucky to have worked when and where you did!

Keith
----- Original Message -----
From: <mailto:[email protected]>Arthur Cordell
To: <mailto:[email protected]>'RE-DESIGNING WORK, INCOME DISTRIBUTION, EDUCATION' ; <mailto:[email protected]>[email protected]
Sent: Monday, November 19, 2012 1:17 PM
Subject: [Ottawadissenters] RE: [Futurework] Thoughts on the golden age

You Can't Go Home Again the novel by Thomas Wolfe
The time that Krugman describes is a time when a breadwinner in the family could support mate and many kids, still afford a new car from time to time and could afford to buy a new (tract) house. I am describing my late father in law. Was a middle income worker at National Defence yet managed to live reasonably well on one salary. Try that today.
arthur
From: <mailto:[email protected]>[email protected] [mailto:[email protected]] On Behalf Of Ed Weick
Sent: Monday, November 19, 2012 10:54 AM
To: [email protected]; [email protected]
Subject: [Futurework] Thoughts on the golden age
Krugman on then and now:

<http://www.nytimes.com/2012/11/19/opinion/krugman-the-twinkie-manifesto.html?ref=opinion&_r=0>http://www.nytimes.com/2012/11/19/opinion/krugman-the-twinkie-manifesto.html?ref=opinion&_r=0
Ed
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