.Yes, Trump is an idiot, but he's not the idiot who caused these issues. Those idiots were Wall St and the CEOs
The current kind of advanced technology that is being referred to as fifth generation, and above, requires large numbers of highly skilled people acting independently towards a unified goal to make it work. As we've talked about before, that is one of the reasons why the US is one of the few countries that can engage in fracking.
This is in sharp contrast to the pattern in the perestroika undertaken by Mikhail Gorbachev in which most of the major reforms were originated by Gorbachev himself. The bottom-up approach of the Deng reforms, in contrast to the top-down approach of perestroika, was likely a key factor in the success of the former.[47]
Deng's reforms actually included the introduction of planned, centralized management of the macro-economy by technically proficient bureaucrats, abandoning Mao's mass campaign style of economic construction. However, unlike the Soviet model, management was indirect through market mechanisms. Deng sustained Mao's legacy to the extent that he stressed the primacy of agricultural output and encouraged a significant decentralization of decision making in the rural economy teams and individual peasant households. At the local level, material incentives, rather than political appeals, were to be used to motivate the labor force, including allowing peasants to earn extra income by selling the produce of their private plots at free market value.
Wages are grinding higher as the labor market continues to tighten,” said Justin Weidner, an economist at Deutsche Bank. “Wage growth is likely to be over 3 percent again soon.”
what bothers me about that is 1. do people have good jobs 2. massive gap in wealth grows (because money makes money way faster than labor makes money, especially if you can't get a good job). I mean this doesn't bother me personally as much as it does as a policy matter.
windwalker wrote:As a policy matter it does seem to be being corrected.Wages are grinding higher as the labor market continues to tighten,” said Justin Weidner, an economist at Deutsche Bank. “Wage growth is likely to be over 3 percent again soon.”what bothers me about that is 1. do people have good jobs 2. massive gap in wealth grows (because money makes money way faster than labor makes money, especially if you can't get a good job). I mean this doesn't bother me personally as much as it does as a policy matter.
Does it bother you, or doesn't it.
It will take time to correct the imbalances in the labor market and manufacturing.
windwalker wrote:what bothers me about that is 1. do people have good jobs 2. massive gap in wealth grows (because money makes money way faster than labor makes money, especially if you can't get a good job). I mean this doesn't bother me personally as much as it does as a policy matter.
Does it bother you, or doesn't it.
It will take time to correct the imbalances in the labor market and manufacturing.
Steve James wrote:It seems odd to say that whatever (positive) economic changes can be attributed to a "trade war." First of all, the wars not over, so the changes may not reflect the result. If the 3% increase is real because of the war, when the war's over, who's to say whether it will go up or down. Besides, if gas prices continue to rise, the overall increase in pay will not cover it.
The question to ask is whether the cost of items manufactured here are rising or lowering. Rising is good for the worker. Profits are not pulled from thin air; they come from sales. Imposing tariffs simply raises costs that must be passed along to the consumers. I'm no economist, but that's the way it usually works.
Btw, the news that tariffs on Canadian steel and aluminum have been lifted seems to go unnoticed. What exactly was the resolution? Is it better now, and how? Why were they lifted, if they were good? What's the new agreement, or is it the same? The point is whether tariffs and trade wars work or are necessary.
Hey, if the point is that all countries look after their interests, then China does the same thing with its business that Trump does with his taxes and real estate deals: i.e, everything permitted by law --and everything else they can get away with.
Users browsing this forum: No registered users and 98 guests