Re: query: real wage catch-up

[Doug Henwood <dhenwood@xxxxxxxxx>]

There's an updated version of that graph in the 
new paperback edition of After the New Economy 
(New Press, June 2005), hitting stores any day 
now. Plus a long discussion of recent 
productivity trends - all part of the 30-page 
postscript on the dismal economy of the Bush 
years.

Doug

paul phillips wrote:

> Doug had a very persuasive graph on his LBO 
> website that showed a dramatic disconnect 
> between wages and productivity.  Is that trend 
> continuing?
>
> Paul Phillips
>
> Jim Devine wrote:
>
> > On 6/7/05, Michael Perelman  wrote:
> >
> >
> > > Didn't wages fail to keep up with productivity 
> > > in the 20s as mechanization  accellerated?<
> >
> > It depends on the sector. In the US, wages fell behind productivity
> > growth in manufacturing, the corporate sector, and the like. But they
> > did better in small business...
> >
> > By the way, here's the quote I'm using (though the Meltzer one is good, too):
> >
> > One statement of this faith is by McConnell and Brue (2005: 279):
> > "Real wages ? do not always rise in lockstep with gains in
> > productivity over short spans of time. But over long periods,
> > productivity and real wages tend to rise together." The latter
> > assertion seems contradicted by their diagram 15.1 on the same page.
> >
> >
> >
> >
> >
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