McDonalds: "What, my peon, you don't work two full time jobs?"

[DGuller]

That looks a lot like the graph of productivity and median wages, with a similar sudden divergence.  I wonder if those two effects are connected, and whether there is a causal link between them.

The bottom lines decrease isn't really that similar to the top line's increase.

[garbon]

That looks a lot like the graph of productivity and median wages, with a similar sudden divergence.  I wonder if those two effects are connected, and whether there is a causal link between them.

The bottom lines decrease isn't really that similar to the top line's increase.

I'd say the top line diverges rather than that they have a similar divergence.

[DGuller]

That looks a lot like the graph of productivity and median wages, with a similar sudden divergence.  I wonder if those two effects are connected, and whether there is a causal link between them.

The bottom lines decrease isn't really that similar to the top line's increase.

I'd say the top line diverges rather than that they have a similar divergence.

I'm not comparing these two lines on Meri's graph, I'm comparing the graph Meri posted with the infamous graph of real median income, which likewise goes limp in the 1970ies while productivity line keeps going up.

[MadImmortalMan]

It's almost as if some sort of new radical economic ideology took hold in the 1970's.

You blaming the Nixon Shock? 

[Razgovory]

It's almost as if some sort of new radical economic ideology took hold in the 1970's.

You blaming the Nixon Shock? 

Austrians and the Chicago boys.

[DGuller]

It's almost as if some sort of new radical economic ideology took hold in the 1970's.

You blaming the Nixon Shock? 

Austrians and the Chicago boys.

That would be off by at least half a dozen years.  Earnest deregulation didn't start happening until Ford/Carter years.

[Ed Anger]

I suddenly want a Happy Meal.

You must be depressed.

I just want to be happy.

You and me both, my brother.

[Razgovory]

It's almost as if some sort of new radical economic ideology took hold in the 1970's.

You blaming the Nixon Shock? 

Austrians and the Chicago boys.

That would be off by at least half a dozen years.  Earnest deregulation didn't start happening until Ford/Carter years.

The early part of that dip is due to declining economy from the war, the oil embargo, price controls  and other things.  You see other dips like that in the chart.  Normally wages would jump back up, but in the mid to late 1970's they didn't.  That's when we see the Austrians sinking their knives in.

[Admiral Yi]

Sinking their knives into what?

[Razgovory]

Figure of speech.  They don't actually use knives.

[Admiral Yi]

What does the figure of speech signify?

[Razgovory]

What does the figure of speech signify?

The negative effect of their influence in economic circles and the body politic.  The knife statement was a bit pointed, I agree.  I was still happy with the knife analogy I made yesterday about the fiscal conservatives.  So I'm a bit knife crazy right now.

[Admiral Yi]

Can you be a little more specific please? 

[Razgovory]

Can you be a little more specific please? 

By knife crazy I keep thinking about knives.

[Admiral Yi]

You win again Raz.

You're getting good at this.