Tag: wages
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‘Great Decoupling’ of Wages and Productivity Driven by New Technology
Huffington Post: 'Great Decoupling' of Wages and Productivity Driven by New Technology Interesting chart.
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Practically human: Can smart machines do your job?
Associated Press: Practically human: Can smart machines do your job? … To better understand the impact of technology on jobs, The Associated Press analyzed employment data from 20 countries; and interviewed economists, technology experts, robot manufacturers, software developers, CEOs and workers who are competing with smarter machines. The AP found that almost all the jobs…
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Higher costs forcing firms to relocate (from China)
China Daily: Higher costs forcing firms to relocate Jobs going to other countries in China's 'great industry transfer' Rising wages and shrinking export demand are forcing manufacturers to relocate to neighboring Southeast Asian nations and many that remain are seriously considering moving, a foreign trade official from the Ministry of Commerce said. The official, who…
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Shattering the Conventional Wisdom on Growing Inequality
Freakonomics: Shattering the Conventional Wisdom on Growing Inequality …Inequality has not grown over the last decade — at least not very much. What we think is a rise in inequality is merely an artifact of how we measure things. As improbable as it may seem, I believe them. Their argument could hardly be simpler. How…
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MEC: Solutions
Chapter 30 in Everything Must Change is titled "Organized Religions or Religion Organizing the Common Good?" He identifies seven categories of development economics. Summarizing: Trade First, we have to live within environmental limits. Second, integrate free trade with fair trade. Third, we need to make it easier for people to grow small businesses. This will…
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“Penny Foolish” – Yes!
The Liberal Order (Mark Steckbeck): "Penny Foolish" – Yes! Economics Professor Mark Steckbeck argues why the agreement with Taco Bell and McDonalds concerning wages for South Florida Tomato pickers (which Burger King has rejected) is a bad idea. He is reacting to the story in the New York Times Penny Foolish. Interesting take.
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Does free trade lower prices?
Greg Mankiw's Blog: Does free trade lower prices? Lots of econospeak in this short post, but I thought this conclusion was helpful. So maybe when we hear people say that trade lowers prices, we should interpret the statement as meaning that trade lowers the price of a basket of consumer goods for a given price…