Re: [Marxism] US working class falling real wages and rising job insecurity (Was: DP domestic...)

["Sayan Bhattacharyya" <ok.president+marxmail@xxxxxxxxx>]

On 7/25/07, Marvin Gandall <marvgandall@xxxxxxxxxxxx> wrote:

> Brooks' citation of another study by the Congressional Budget Office
> purporting to show less income volatility is equally misleading. It has been
> contradicted by two other studies - one by Yale political scientist Jacob
> Hacker and the other by economists from the Federal Reserve and Brookings
> Institution - which indicate that US working families have experienced more
> frequent and abrupt drops in their income during the past three decades than
> in the preceding postwar period.

To be fair, Brooks was comparing today's volatility not with the
preceding postwar period but with the 1980s and 1990s. He said:

"income volatility is probably not trending upward. A study by the
C.B.O. has found that incomes are no more unstable now than they were
in the 1980s and 1990s"

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