"Nearly two-thirds of all the new jobs created since 2009 pay less than $13.80 an hour."
- posted
10 years ago
"Nearly two-thirds of all the new jobs created since 2009 pay less than $13.80 an hour."
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If you want a third world society and culture, create a third world economy. If you want a third word economy, pay third world wages... Unka' George
Studies have found income grew more unequal almost continuously except during the economic recessions in
1990-91, 2001 (Dot-com bubble), and 2007 sub-prime bust.Well, that's the Obama economy for you.
. Christ> "Nearly two-thirds of all the new jobs created since 2009 pay less than $13.80 an hour."
Income inequality is a consequence of technological change.
With the continued development of computer technology, people of low and average intelligence are permanently displaced by computers that can do their job better.
"Educating" those people is not really the answer, because you cannot teach them to do anything that computers cannot do better. So, people of high intelligence can enjoy greater benefits of automation, while the rest of the population is unneeded and displaced.
As I do not expect people in general to suddenly become smarter, this trend is not reversible. Also, as computer and algorithmss become better, faster and smarter, "the IQ bar" for being displaced by computers, is constantly raised.
The implications of this are disturbing.
Blaming "Obama" is the easy explanation for dumb people, who do not understand why they became redundant.
i
No less than you. What makes you such an expurt on "wage structure"?
My guess is simple greed on your part.
Dhu
IQ has nothing to do with all the menial jobs that have been exported to low wage contries/regions. Where does apple manufacture thier products? Most people are coned into believing the government controls the ecconomy when in fact it is controlled by multinational corporations, wall street bankers and thier lobbyists. They are the ones who decide who gets the wealth. Technological change is not the cause of exporting jobs.
Best Regards Tom.
Who is supposed to buy what they're producing?
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What they going to use instead of the money you declared they haven't earned?
Who is going to demand the products they are producing?
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The employees don't have the money, so they aren't the customers. Who are the customers?
And once again you start with your repetitious whining instead of responding rationally. And you will continue to rant until everyone walks away from your tantrum.
The phrase you are groping for is 'market failure'.
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You said they are going to be paid even less so they will have even less money to spend, and so not increasing demand as fast as they increase supply.
So you're depending on faith based economics.
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The price depends on beef and potato subsidies from USDA. Republicans want to shut down those subsidies.
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The computer still cannot drive nails and dig ditches. Your "lower intelligence" people can make very good wages as skilled laborers and tradesmen that will not be replaced by computers in their lifetimes, or their children's lifetimes.
And there are more unemployed IT and computer science geeks out there than there are unemployed electricians, plumbers, millrights, mechanics, etc.
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