We know, for example, in the United States, where the data is best, that middle and lower income people have not seen a real increase after adjusting for inflation in their earnings for decades, but the top earners have massively increased their wellbeing.
Sigh.
I’d argue this is even more egregious
What do I mean by productivity? Productivity is the increase in the profit made from each hour of labour input put into the delivery of a product or service.
Every time there’s been a gain, whatever the reason – computerization, better technologies, whatever else – the rich have gained by increasing the profit margin. Nobody else has.
Have literally a million better things to do with my time than fisk this s$%t but will probably return later on….
The true mark of a crank: Passing off uninformed opinion as truth so obvious that providing support for said opinion is an unnecessary distraction from one’s Mission.
You just know Murphy never bothered to look at the data before hitting the Enter key.
@Dennis
Come on now, it took me nearly 5 minutes to find a copy of that graph online. You can’t expect Murphy to spend that long on research. He has ducks to watch and plans to dream.
I think it’s worse than that, Dennis – we know that it never occurred to the Spud that he even look for data. His pronouncement was sufficient unto itself. Sort of an intellectual Ozymandias, isn’t he?
I suspect that he keeps repeating this canard because other like-minded people repeat it.
Self-licking ice cream cone as all concerned get money from writing more posts with the same articles of faith.
Anyone who investigates would be cast out from the Chosen Ones.
Hey guise, remember how we’re supposed to hate Russia because they jail their political opposition?
I had a similar argument about Australian wages with someone online today. The other person said that weekly earnings hadn’t kept up with inflation since the 1960’s here. Two minutes on TradingEconomics and the Reserve Bank’s inflation calculator showed that in real terms our wages have well outstripped inflation since the late 60’s.
It’s like shooting fish in a barrel with some of these clowns.