Gene began with 2 questions. The second was whether Greenspan caused or responded to the productivity boom. Of course, workers do better during booms.
On Sat, Sep 22, 2007 at 01:13:32PM -0400, Doug Henwood wrote: > On Sep 22, 2007, at 1:03 PM, Michael Perelman wrote: > > > But this sort > > of technology is certain to displace workers, at least in the short > > run, unless a > > fall in prices increases real incomes enough .... > > The U.S. added over 16 million jobs during the period of the > productivity acceleration, from 1995 to 2001. Real wages also rose > across the board. The working class has done worse under the recent > productivity slowdown. The working class did well during the strong > productivity growth of the 1950s and 1960s, and poorly in the > slowdown of the 1970s and 1980s. So I really don't understand what > you're talking about. > > Doug -- Michael Perelman Economics Department California State University Chico, CA 95929 Tel. 530-898-5321 E-Mail michael at ecst.csuchico.edu michaelperelman.wordpress.com
