The article claims: "And while companies are hiring fewer workers in favor of more machines, they’re squeezing more out of the workers that do get jobs. S&P 500 companies made $420,000 per worker in 2011, a full ninth more than in 2007."
Intel only made a profit of $105,000 per employee. Which companies are making all that profit? -- Ron ----- Original Message ----- From: "Eugene Coyle" <[email protected]> To: "Pen-l Pen-L" <[email protected]> Cc: "SWT list" <[email protected]> Sent: Sunday, February 3, 2013 9:38:04 PM Subject: [Pen-l] Krugman on rise of machines Paul Krugman keeps sliding over, bit by bit. He still has a long way to go. He now accepts "Capital biased technological change" as part of the explanation for growing inequality. His previous position (as I infer from this video) was that "Skill biased technological change" was what was going on, with some workers losing, some workers winning. Now it is capitalists winning and workers in general losing. Either way, in his analysis, it is just the market carrying out its invisible responsibilities. Of course that could be interfered with via one or another government policy, or an insurrection, though Krugman does not comment on that. I suppose he still asserts that there is a lump of labor fallacy. > http://www.huffingtonpost.com/2013/02/02/paul-krugman-rise-of-machines_n_2607346.html > Gene _______________________________________________ pen-l mailing list [email protected] https://lists.csuchico.edu/mailman/listinfo/pen-l
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