My understanding is that while productivity of the American worker has continued to climb, the worker's real wages peaked in 1972 and have been declining ever since.
Could this be most true due to American workers buying from the competition? Supply & Demand being met by China & Japan?
This would not account for increasing productivity from American workers, would it?
Nor would it account for American employers relocating overseas to become the competitors. Dropping tariffs that had previously protected American goods and workers would account for some of that, though. Failure for the US to have a state run health system might account for some of that. Countries with such systems, such as Japan, have been able to produce goods more cheaply.
American companies have relocated to take advantage of these price breaks in production, hoping that American workers would still provide a steady market for the goods they produce. This only works so long as the cost of the goods remains cheaper than the diminishing salaries of the workers they've abandoned will support this decision. Afterward, it's economic suicide.
The obscene wages may be in actuality obscene bonuses, which have very much gotten out of proportion with the actual wages paid to folks who do the actual non-managerial labor.
Well, I donít know anyone who would file a grievance if he or she is sitting in the receiving chair when such a lucrative offer is tabled, and the really wonderful superiors share the experience.
I mean, I know of a time there was a request filed for board review that might alter the provisions offered on a perk: Spa package in exchange for a Golf package, since the employee had no interest in Golf. And she received it, accordingly, with a nightís stay at the hotel of her choice due to the expense of Golf being much more than the expense of the Spa treatment. The package was extended to employees of non-managerial positions if they participated in helping said superior meet the goals necessary!
People do choose what line of work they are in, what chair they compete for, and whether they ultimately sign-on for labor, clerical, & management positions.
The part of what you say here that I can follow is that people choose what job they hold.
I say to you that's hogwash.
At the very best, people can choose a general direction, and luck and ability and hard work play a major factor after that. Don't tell me that you chose to be an entrepreneur. I don't believe it. What I believe is that you chose to be a wealthy and successful entrepreneur, not somebody who has trouble keeping her head above water. I could be wrong, but my theory is that few people chose to be somebody who's barely getting along, either working for somebody else or working for themselves.
Those who are fortunate, make it big.
The great invention that America has come up with is the middle class. You can join the middle class, the dream says, if you work hard, save, and live right; and from the end of the second world war until recently this has been so. Even as a worker, if you joined a union, middle class living was a possibility for you, and this supplied America with a whole class of folks who were proud to go to work at GM or at GE or wherever, even in Coal Mines, because they felt like they were partners in what was going on and because they felt they had a right to be treated right.
I can't say that is the case any longer.
But the wages paid on the average to folks who aren't managerial have dropped.
And Reg replied:
In reference to productivity, people are definitely pushed to meet demands when the demands are there. Where are Da Mands going??
Again, I think this is market-reflective of productivity from foreign suppliers that donít even viciously compete with our markets, but sell sell sell they do to us, even with their eyes closed--those blasted buggers! AND this is also reflective of investment, whether itís in oneís self, oneís business, interests or goods, and as a group/whole.
So many things are reflective of said drop in productivity/wages. Iím having a very hard time finding shoes & coffee cups that are not made in China or Taiwan! THREE CHEERS FOR NEW BALANCE & CORNINGWARE/CORELLE!! Incidentally, the shoes I wear are usually indicative of how I make food happen upon the table. If Iím barefooted too long? Bare cupboards happen. So much for being a professional hillbilly.
I have no idea what you're talking about in terms of being a barefoot Hillbilly.
I know you're right about the drop in wages from 1972 to the present.
Why you insist on saying otherwise is beyond my understanding. Why, then, do you persist in saying otherwise?
But the chart is Great! Those stats give an idea, especially in relative pace with inflation, but I highly doubt itís an absolute account of private sector dealings with payroll (how employers creatively manage the weight of inflation, or how inflation is creatively manipulated for reporting) for too many reasons to hash, but hereís a few:
1.Overtime is often paid in cash.
2.The convenient 90-day probation period.
3.Loopholes & trends that confuse reporting.
The chart was adjusted for inflation.
Whether overtime is paid in cash or not, for what you suggest here to make any difference at all, there would have had to have been a change in policy for that payment after 1972 for it to show up in the figures. Unless you can demonstrate such a national payment policy shift over that period of time, when union influence has taken a nose-dive, then there would be little to support such an assumption.
The 90 day probationary period is supposed to affect the overall payment in exactly what way?
And the loopholes and trends that confuse reporting have proved different than the loopholes and trends prior to 1972 in exactly which way so that they would appear to distort the amount of money being paid out in a downward fashion. Were this in fact the case, we would have a situation where, as in 1972, it would be more common for a single wage earner to be able to support a household. Instead, we now have a situation where it is more common for there to be two wage earners needed to support a household, and even then, the household seems to be stressed in order to make ends meet.
Sorry, Reg, I don't think what you say is accurate. Your speculations are interesting, but they need to be buttressed with more reasoning and more facts to be more convincing, in my opinion at least.
Must take a hike now. The weather is too awesome to imagine!!