Economic Recovery in America

[The Minsky Moment]

From 2009-2012:

Worker productivity: up 4.5 percent
Median hourly wages: down 2.8 percent.

Cue Comte d'Argent and Ideologue.  Go get 'em.

[CountDeMoney]

God Bless America!

[garbon]

I'm so productive!

[fhdz]

That counts as a recovery, eh?

It's weird when economic recovery is completely divorced from the notion of employment recovery. Maybe it's not so weird. Maybe we're just fucked.

[Ed Anger]

Ed anger productivity : -99%
Ed anger laziness: : +99%

[derspiess]

Seems like every recovery is a jobless recovery at first.

[fhdz]

Seems like every recovery is a jobless recovery at first.

Except, for instance, the New Deal.

That one focused on the three Rs - relief, recovery, and reform.

Recent recoveries seem to focus largely on getting the economy back where it was, with precious little expended on relief or reform.

What drives me through the roof is that the economy continues to *grow*, while things get worse and worse for workers. The shiftless fuckers have done a great job convincing people that "things are tough all over", when they aren't - they're not tough at all for the cream of the crop. Fucking corporatist bullshit is what it is.

[crazy canuck]

I thought jobless recoveries were a relatively recent phenomenon

[CountDeMoney]

It's weird when economic recovery is completely divorced from the notion of employment recovery. Maybe it's not so weird. Maybe we're just fucked.

Not so weird at all.  Companies have contracted and have learned to do more with less employees;  naturally, those employees remaining are more productive,as they're doing more work to make up for lost labor, and in turn the market has rewarded companies for stockpiling their capital. 

Besides, the goal for any company is to reach that ideal ratio of maximized profit, where the most money can be earned using the least amount of employees. 

Over time, we'll get where the private sector will continually contract to the point were there's only one company with one CEO overseeing one employee, and a contractor at that.  I haven't come up with a name for this theory yet, but when I do I will work Yi's name into it.

[garbon]

It's weird when economic recovery is completely divorced from the notion of employment recovery. Maybe it's not so weird. Maybe we're just fucked.

Not so weird at all.  Companies have contracted and have learned to do more with less employees;  naturally, those employees remaining are more productive,as they're doing more work to make up for lost labor, and in turn the market has rewarded companies for stockpiling their capital. 

My company keeps expanding which apparently means that people aren't getting raises unless they are promoted.

[frunk]

It's weird when economic recovery is completely divorced from the notion of employment recovery. Maybe it's not so weird. Maybe we're just fucked.

Not so weird at all.  Companies have contracted and have learned to do more with less employees;  naturally, those employees remaining are more productive,as they're doing more work to make up for lost labor, and in turn the market has rewarded companies for stockpiling their capital. 

Besides, the goal for any company is to reach that ideal ratio of maximized profit, where the most money can be earned using the least amount of employees. 

Over time, we'll get where the private sector will continually contract to the point were there's only one company with one CEO overseeing one employee, and a contractor at that.  I haven't come up with a name for this theory yet, but when I do I will work Yi's name into it.

Yiconomic Singularity?

[derspiess]

I thought jobless recoveries were a relatively recent phenomenon

I haven't experienced any of the older ones.

[Admiral Yi]

I assume most of y'all are in favor of some sort of income redistribution?

If so, what form would you prefer?  Monthly check?  Refundable tax credit?  Make-work jobs for the unemployed and/or underemployed?  Housing vouchers? 

Who should get it?  What's the income cap?  24K for a single, 48 for a family of 4?  All 99%?

I'm not a huge fan of income redistribution, but I don't intend these questions ironically.  And I think with winner take all markets a reasonable case can be made for redistribution.

[CountDeMoney]

Yiconomic Singularity?

You're a win as Wall Street, frunkenstien.

[merithyn]

I assume most of y'all are in favor of some sort of income redistribution?

Can you think of a way to change the corporate culture more toward benefitting employees than we currently see that doesn't involve government redistribution? Serious question.