Not only is labor subject to market forces, but the advent of birth control and women's liberation has started a mining operation on human capital which has lowered wages below Ricardo's "iron law of wages" since Ricardo's real law was based on the cost of reproduction, not just the cost of survival. Since we are now mining our women's fertility for labor -- particularly the more intelligent more highly educated women -- the inelasticity of demand for labor has resulted in a plummeting labor compensation rate in terms of precious metals and anything else that matters, such as housing or healthcare -- and that plummeting labor compensation rate has been going on since the early 70s, not just since the bubbles starting in 2000 on.
There may be a sustained supply of educated labor from sexist cultures such as India and China, as the Europeans disappear.
PS: No, I'm not a Catholic. I"m just a realist about the economics of vital statistics.
Last edited by jabowery; 03-29-2012 at 01:09 PM.
If you wanted some sort of Ideological purity, you'll get none of that from me.
THEY ARE TRADING ON UNCERTAINTY.
NOTE THE SABER-RATTLING WITH IRAN.
MAJOR USERS (AIRLINES & FREIGHT-LINES & SUCH) FILL UP THE TANKS "AS THEY GO", BUT THEY CONTRACT PRICES IN ADVANCE.
War or No War . . . whaddya think?
Romney or Obama . . . Keystone or not?
Oil or Natural Gas?
STEP RIGHT UP! BUY YER LOTTO TICKETS & ETF's RIGHT HERE!
Might as well. They ain't payin' shit on Straight Savings til AT LEAST 2014.
Unless we do something about it.
This kinda (YESTERYEAR) EAGERNESS to pin the lion's share of the blame on the lesser (in your minds, literally and figuratively) factor in the equation, BECAUSE IT ALLOWS YOU TO BLAME WOMEN RATHER THAN BIG SWINGING DICKS, is the kinda blatant #Sexism that turns Moderates/Independents/Enlightened and even Disillusioned/Disenfranchised AWAY from Ron Paul and BACK to the unrighteous-and-unreliable-but-less-frightening "Left".
At my own notable expense (which obviously did not offend machismo sensibilities), I TWICE traveled to meet with one Gun Toter Board Member who proceeded to inform me the he, fellow Freedom Fighter, believes Women ought NOT be allowed in the workplace.
WHAT SHALL WE DO WITH OVER 50 MILLION SINGLE WOMEN? LINE 'EM UP & MOW 'EM DOWN?
"No, but..." He was stickin' to his guns.
A RELIEF, TO BE SURE, THAT HE DOES NOT THINK NON-HEIRESS SINGLE WOMEN SHOULD BE DROWNED LIKE RUNTS. BUT DOES THIS THINKING "NATURALLY" SEQUE TO #POLYGAMY? INDENTURED SERVANTS? WHAT?!?!
Last edited by cheapseats; 03-29-2012 at 08:35 PM.
@cheapseats: FYI, you have an extra "s" in the middle of your blog's URL.