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Open thread Jan. 31, 2017

Dan Crawford | January 31, 2017 6:38 am

Tags: open thread Comments (2) | Digg Facebook Twitter |
2 Comments
  • Denis Drew says:
    January 31, 2017 at 9:58 am

    Re: DeLong on Rodrik on Delong on NAFTA — at Equitable Growth

    Lost in all the fine and refined analyses …

    … see http://angrybearblog.strategydemo.com/2017/01/trade-agreements-have-harmed-manufacturing-employment.html …

    seemingly forever lost (!), is that most all today’s $10/hr US jobs (e.g., Walmart cashier) could plausibly be paying more like $20/hr — with German level union density. Given that 45% of today’s US workforce is earning $15/hr or less this seems to make debating about a few percent more or fewer manufacturing jobs blamed on this or that far from the defining issue of our time.

    And don’t forget health care looks like the next manufacturing — evenly spread everywhere and eventually government funded.

    [cut-and-paste]
    THE MONEY IS THERE SOMEWHERE

    You can’t get something from nothing but, believe it or not, the money is there, somewhere to make $10 jobs into $20. Bottom 45% of earners take 10% of overall income; down from 20% since 1980 (roughly — worst be from 1973 but nobody seems to use that); top 1% take 20%; double the 10% from 1980.

    Top 1% share doubled — of 50% larger pie!

    One of many remedies: majority run politics wont hesitate to transfer a lot of that lately added 10% from the 1% back to the 54% who now take 70% — who can transfer it on down to the 45% by paying higher retail prices — with Eisenhower level income tax. In any case per capita income grows more than 10% over one decade to cover 55%-to-45% income shifting.

    Not to mention other ways — multiple efficiencies — to get multiple-10%’s back:
    squeezing out financialization;
    sniffing out things like for-profit edus (unions providing the personnel quantity necessary to keep up with society’s many schemers;
    snuffing out $100,000 Hep C treatments that cost $150 to make (unions supplying the necessary volume of lobbying and political financing;
    less (mostly gone) poverty = mostly gone crime and its criminal justice expenses.

    IOW, labor unions = a normal country.

  • Denis Drew says:
    January 31, 2017 at 10:09 pm

    https://www.yahoo.com/tech/rogue-group-staffers-tweeting-secrets-white-house-131032024.html

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