michael perelman wrote: Presumably, low wage jobs in production are the first to go, especially in light of outsourcing. That should raise average wages. On the other hand, much of the job growth is in low wage service jobs, which should lower average wages. I am guessing that the latter should predominated, but I am not sure. Any suggestions?
The outcome is not the resultant of independent forces like low wage jobs, the other jobs, and their demand and wage rates. The key driver, reinvestment of profit to make more profit (that is, accumulation), no longer generates massive numbers of jobs in new industries, while the process of destroying existing jobs for higher productivity goes on. There is a brief, and I hope succinct, explanation of what is new here in a ten-page section of my No Rich, No Poor. Charles Andrews _______________________________________________ pen-l mailing list [email protected] https://lists.csuchico.edu/mailman/listinfo/pen-l
