Re: productivity

[DMS <dmschanoes@xxxxxxxxxxxxx>]

There is plenty of data on this and except for that data collected by Dr.
Pangloss and his assistants at the Milton Friedman-Ayn Rand School of
the Dismal Science(Team Fight Song-- "First I Look At the Purse"),  the
last 30 years have proved just the opposite-- greater profits have been
accompanied by reductions in living standards, declining real wages, reduced
manufacturing employment, etc. etc.

Reduced profits trigger even greater reductions in living standards, wages,
employment etc.

Rates of growth, globally, have declined from the 1948-1973 period in output,
trade, and profits while the mass of profit has expanded.

Not too long ago, the chief economist for Alliance Capital, measured a
worldwide decline in manufacturing employment, including China, despite
the increased direct investment.

Overall, the trends are for reduced manufacturing employment levels, at both
absolute and relatively diminished wage levels, with growing service sectors where
wages are lower than in manufacturing and for work force increases basically
derived from the employment of women at lower rates than those paid to men.

But it's the best of all possible worlds, and when it gets worse, that will be the
best of all possible worlds, too.


dms