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Denis Drew
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Lost in all the fine and refined analyses ... ... see http://angrybearblog.com/2017/01/trade-agreements-have-harmed-manufacturing-employment.html ... seemingly forever lost (!), is that most all today's $10/hr US jobs (e.g., Walmart cashier) could plausibly be paying more like $20/hr -- with German level union density. Given that 45% of today's US workforce is earning $15/hr or less this seems to make debating about a few percent more or fewer manufacturing jobs far from the most relevant show. And don't forget health care looks like the next manufacturing -- evenLY spread everywhere and eventually government funded. [cut-and-paste] THE MONEY IS THERE SOMEWHERE You can't get something from nothing but, believe it or not, the money is there, somewhere to make $10 jobs into $20. Bottom 45% of earners take 10% of overall income; down from 20% since 1980 (roughly -- worst be from 1973 but nobody seems to use that); top 1% take 20%; double the 10% from 1980. Top 1% share doubled -- of 50% larger pie! One of many remedies: majority run politics wont hesitate to transfer a lot of that lately added 10% from the 1% back to the 54% who now take 70% -- who can transfer it on down to the 45% by paying higher retail prices -- with Eisenhower level income tax. In any case per capita income grows more than 10% over one decade to cover 55%-to-45% income shifting. Not to mention other ways -- multiple efficiencies -- to get multiple-10%'s back: squeezing out financialization; sniffing out things like for-profit edus (unions providing the personnel quantity necessary to keep up with society's many schemers; snuffing out $100,000 Hep C treatments that cost $150 to make (unions supplying the necessary volume of lobbying and political financing; less (mostly gone) poverty = mostly gone crime and its criminal justice expenses. IOW, labor unions = a normal country.
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Lost in all the fine and refined analyses ... ... see http://angrybearblog.com/2017/01/trade-agreements-have-harmed-manufacturing-employment.html ... seemingly forever lost (!), is that most all today's $10/hr US jobs (e.g., Walmart cashier) could plausibly be paying more like $20/hr -- with German level union density. Given that 45% of today's US workforce is earning $15/hr or less this seems to make debating about a few percent more or fewer manufacturing jobs far from the most relevant show. And don't forget health care looks like the next manufacturing -- even spread everywhere and eventually government funded. [cut-and-paste] THE MONEY IS THERE SOMEWHERE You can't get something from nothing but, believe it or not, the money is there, somewhere to make $10 jobs into $20. Bottom 45% of earners take 10% of overall income; down from 20% since 1980 (roughly -- worst be from 1973 but nobody seems to use that); top 1% take 20%; double the 10% from 1980. Top 1% share doubled -- of 50% larger pie! One of many remedies: majority run politics wont hesitate to transfer a lot of that lately added 10% from the 1% back to the 54% who now take 70% -- who can transfer it on down to the 45% by paying higher retail prices -- with Eisenhower level income tax. In any case per capita income grows more than 10% over one decade to cover 55%-to-45% income shifting. Not to mention other ways -- multiple efficiencies -- to get multiple-10%'s back: squeezing out financialization; sniffing out things like for-profit edus (unions providing the personnel quantity necessary to keep up with society's many schemers; snuffing out $100,000 Hep C treatments that cost $150 to make (unions supplying the necessary volume of lobbying and political financing; less (mostly gone) poverty = mostly gone crime and its criminal justice expenses. IOW, labor unions = a normal country.
Toggle Commented Jan 28, 2017 on What did NAFTA really do? at Dani Rodrik's weblog
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Nov 12, 2015