----- Original Message ----- From: "Gautam Mukunda" <[EMAIL PROTECTED]> To: "Killer Bs Discussion" <[EMAIL PROTECTED]> Sent: Thursday, June 26, 2003 5:59 PM Subject: Re: Comparision of ecconomic growth
> --- Dan Minette <[EMAIL PROTECTED]> wrote: > http://econ161.berkeley.edu/movable_type/archives/000949.html > > > > we find recent quotes from the IMF showing that the > > US now leads Europe in > > productivity per hour as well as productivity per > > capita. Considering the > > fact that the US has a large undereducated > > immigrant population in the > > labor force, and Europe has much higher unemployment > > rates this is fairly > > remarkable. > > > > > > Dan M. > > I believe that historically it has almost always been > the case, however. For most of its history wages in > the US have been substantially higher than those in > the rest of the world - something you could only > sustain with significantly higher productivity. Right, but the median real wage started going down around 1980. The increase in income for all but the top 20% of households was due to the additional hours work outstripping the drop in wagers. Dan M. _______________________________________________ http://www.mccmedia.com/mailman/listinfo/brin-l
