60 Years of American Economic History in 1 Graph

[Boris Johnson]

Well on there is one upside. If the raising in pay had all been both equal and significant, you would have had way more inflation anyway.

[wormwood]

[wormwood]

[Boris Johnson]

It makes no sense to have a manufacturing industry that generally competes across many products that don't need to be high quality when it can be done in Indonesia and china for a fraction of the cost. The only way it can be done is to look to the german example, make incredibly specialised consumer (e.g. cars, planes) and industrial goods where quality matters. That can't simply be taken over seas at a moments notice.

So lamenting the departure of the general industrial economy (which has been gone for decades across the west now) is a little like pining after a pet that was stolen away and then had a massive brain aneurysm pop. You were going to loose it anyway.

I might also add, as a member of the 17.62% I find all this talk of percentages as meaningful sociological, economic or political groupings, frankly, batty.

[The Dude]

In fairness, we need a chart of total compensation since it's not only about income (health plans).

[wormwood]

[Boris Johnson]

[wormwood]

[Stratego]

[Stratego]