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View Diary: CRACK!: Bank of America Downgraded (234 comments)

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  •  There was a a total disconnect (3+ / 0-)
    Recommended by:
    JonBarleycorn, jjellin, farlefty

    between Productivity and wages about 24-25 years ago. Before than one could at least make a Prima Face case there was "some" linkage.

    Prior to 1970 productivity gains were nearly always linked to wage gains.

    FDR 9-23-33, "If we cannot do this one way, we will do it another way. But do it we will.

    by Roger Fox on Fri Oct 14, 2011 at 10:04:13 PM PDT

    [ Parent ]

    •  Do you think that coinicided with the (1+ / 0-)
      Recommended by:
      farlefty

      loss of union power?

      •  Part of the equation but not exactly (1+ / 0-)
        Recommended by:
        jjellin

        The 1986 Tax Reform Act removed tax breaks to capital to invest in US jobs incountry. At that point there is a clear disconnect between wage growth and productivity growth.

        This keyboard is acting up.
        The erosion of labor really began with the passing of the Taft Hartley Act in 1947. I consider this the opening salvo.

        Throw in the busting of the PATCO Union in 1981, and you'll have a more complete opicture.

        FDR 9-23-33, "If we cannot do this one way, we will do it another way. But do it we will.

        by Roger Fox on Sat Oct 15, 2011 at 11:50:08 AM PDT

        [ Parent ]

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