Re: [Pen-l] auto bailout question

[raghu <mraghu01@xxxxxxxxx>]

On Sat, Dec 13, 2008 at 10:01 AM, Louis Proyect <lnp3@xxxxxxxxx> wrote:
> CHAD wrote:
>>
>> Of course, this raises several interesting issues (and forgive me if I
>> step on some toes) but it would seem to me that the UAW workers are
>> overpaid.  They have better wage and benefits packages than school teachers
>> and probably faculty at some universities.
>
> No, auto workers are not overpaid, rather it is school teachers who are
> underpaid.


Which all raises the question of how is the right level of wages to be
determined?

It is hard to argue that UAW workers are not overpaid without first
specifying this, right?

Otherwise we end up with the absurd position that workers can never be
overpaid no matter what their wage level is.
-raghu.

--
Q: What's the contour integral around Western Europe?
A: Zero, because all the Poles are in Eastern Europe.
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