One-Page Economics-Wage
Growth Analysis
Please
| Important Axioms | Related Materials |
1. There are Few High Paying Jobs. "...the idea that you can just have better training and then there are all these jobs, all these places where there are shortages and we just need the trained people is fundamentally an evasion." " The core problem is that there aren't enough jobs. If you help some people, you could help them get the jobs, but then someone else won't get the jobs. " Lawrence Summers, The Future of Work (2015) |
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| 2. The large rapidly growing
service economy has mostly low and high paying jobs. A. Low paying service jobs are expanding much more in absolute terms. B. High paying service jobs are few in number and require well ambitious usually well educated people. |
World Changed and Good Jobs Disappeared |
| 3. US
Underground Economy
which lowers market income
has been reinforced by Social Media by A. making it much easier to trade services B. find under the table jobs |
Underground
Economy is Difficult to Measure and small but increasing growth would substantially undercut market wage growth. |
| 4. Prejudice for by
influential people has resulted in substantial negative unintended
consequences. A. Educators have incorrectly implied for 50 years that more academic education for an increasing percentage portion of our working population would provide a high economic return. B. Voters concerned with God and Gun issues have made an unlikely made an alliance with Greed and anti-government voters to defeat voters who believe Government improve society wellbeing. C. Inflation Data is misused by many allowing them to use high, medium and low wage growth depending on the circumstances. |
American Higher Education Turned False Promise
Obama Dusts Off His Cling to Guns or Religion Idea |