On Sep 22, 2007, at 1:03 PM, Michael Perelman wrote:
The jobs in the US are being produced in low wage service occupations, which do not allow much technical change.
Eh? Wal-Mart? They revolutionized retail with high-tech. The jobs suck, but no one beats them on inventory control, logistics, analysis of buying patterns, etc. The gee-whiz example of this is that they know that people stock up on PopTarts (the breakfast kind, not the Britney kind) before a hurricane, so they ship extras when one is forecast. Anyone who wants to do economic planning has a lot to learn from them. Doug
