Comments on: Framing Inequality http://www.juliansanchez.com/2007/02/15/framing-inequality/ Just another geek in the geek kingdom Thu, 09 Feb 2012 05:38:37 +0000 hourly 1 http://wordpress.org/?v=3.2 By: Gil http://www.juliansanchez.com/2007/02/15/framing-inequality/comment-page-1/#comment-1663 Gil Mon, 19 Feb 2007 04:27:31 +0000 http://juliansanchez.com/?p=1616#comment-1663 Julian, As some of these comments imply, I think you're optimistic about the critics of inequality being interested in the relationship between inputs and outputs. It's about more than framing. Julian,

As some of these comments imply, I think you’re optimistic about the critics of inequality being interested in the relationship between inputs and outputs.

It’s about more than framing.

]]> By: Reality Man http://www.juliansanchez.com/2007/02/15/framing-inequality/comment-page-1/#comment-1662 Reality Man Sat, 17 Feb 2007 09:35:30 +0000 http://juliansanchez.com/?p=1616#comment-1662 Most of the better economists I've seen who have tried to deny that real wages have been flat have made fools of themselves. The National Review guys have moved from denying it exists to asking if it's important. Julian Sanchez not too long ago linked to Bhagwati's piece blaming it on automization in manufacturing that has pushed people out of factory jobs, but did not deny it has taken place. Sure, we have cell phones, but does the current middle class take longer or more exotic vacations than their parents did? Do they on average really drive more cars? Are the houses bigger? Or do they just stock up on cheap stuff at Wal-Mart that is simply updating the old stuff (i.e., buying a cheaply-made big screen TV to replace an older smaller model)? Has this trend even affected other industrial nations? The gadgets we buy in this country compared to Japan and Korea, among others, are pretty lame and passe'. I never see this cited as support for the idea real wages haven't been mostly stagnant and I find that odd. Most of the better economists I’ve seen who have tried to deny that real wages have been flat have made fools of themselves. The National Review guys have moved from denying it exists to asking if it’s important. Julian Sanchez not too long ago linked to Bhagwati’s piece blaming it on automization in manufacturing that has pushed people out of factory jobs, but did not deny it has taken place. Sure, we have cell phones, but does the current middle class take longer or more exotic vacations than their parents did? Do they on average really drive more cars? Are the houses bigger? Or do they just stock up on cheap stuff at Wal-Mart that is simply updating the old stuff (i.e., buying a cheaply-made big screen TV to replace an older smaller model)?

Has this trend even affected other industrial nations? The gadgets we buy in this country compared to Japan and Korea, among others, are pretty lame and passe’. I never see this cited as support for the idea real wages haven’t been mostly stagnant and I find that odd.

]]> By: joeo http://www.juliansanchez.com/2007/02/15/framing-inequality/comment-page-1/#comment-1661 joeo Fri, 16 Feb 2007 23:26:00 +0000 http://juliansanchez.com/?p=1616#comment-1661 I am with reality man. Income inequality is a real issue. Technological improvements doesn't solve the income inequality problem. Oddly, the technological improvements of the first half of the twentieth century (car, airplane, air conditioner, anti-biotics, telephone, radio and TV) have improved the standard of living more the technological improvements of the second half (computer, internet, ipods and biotech). I am with reality man. Income inequality is a real issue. Technological improvements doesn’t solve the income inequality problem.

Oddly, the technological improvements of the first half of the twentieth century (car, airplane, air conditioner, anti-biotics, telephone, radio and TV) have improved the standard of living more the technological improvements of the second half (computer, internet, ipods and biotech).

]]> By: asg http://www.juliansanchez.com/2007/02/15/framing-inequality/comment-page-1/#comment-1660 asg Fri, 16 Feb 2007 17:58:21 +0000 http://juliansanchez.com/?p=1616#comment-1660 Except that the idea that real wages haven't risen since the 1970s isn't actually true in any meaningful sense; benefit growth is the most common rejoinder, but as lots of economists have pointed out, the measure used to make that judgment (the CPI) fails to take account of technological improvements, so it dramatically understates the actual increase in the standard of living that has occurred since the 1970s. Except that the idea that real wages haven’t risen since the 1970s isn’t actually true in any meaningful sense; benefit growth is the most common rejoinder, but as lots of economists have pointed out, the measure used to make that judgment (the CPI) fails to take account of technological improvements, so it dramatically understates the actual increase in the standard of living that has occurred since the 1970s.

]]> By: Reality Man http://www.juliansanchez.com/2007/02/15/framing-inequality/comment-page-1/#comment-1659 Reality Man Fri, 16 Feb 2007 08:49:24 +0000 http://juliansanchez.com/?p=1616#comment-1659 To a certain extent this avoids the longer-range problem. When you have the large majority of Americans with no rise in real wages since the 1970's while the top 1% or so see rapid income growth, you do have a problem. Productivity gains have not translated into rises in real wages for workers, which undermines one of the great and true arguments for capitalism and flexible labor markets. This isn't capitalism, but a perversion of it. The Guilded Age wasn't the height of capitalism, but where it stumbled and almost fell. Do we really need to go through stuff like that again? To a certain extent this avoids the longer-range problem. When you have the large majority of Americans with no rise in real wages since the 1970′s while the top 1% or so see rapid income growth, you do have a problem. Productivity gains have not translated into rises in real wages for workers, which undermines one of the great and true arguments for capitalism and flexible labor markets. This isn’t capitalism, but a perversion of it. The Guilded Age wasn’t the height of capitalism, but where it stumbled and almost fell. Do we really need to go through stuff like that again?

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