Minimum Wage, Nick Hanauer

Babylon

Former Staff
Apr 2007
11,780
5,915
Jersey
#41
Gosh, that's easy enough.
I find it beyond sad, and actually TRAGIC, that America has so utterly forgotten what made this country so rich in the first place.
I thought we became rich because we've had free and cheap labor since our inception..?
 
Jan 2016
43,846
39,520
Colorado
#44
So this country has always paid for the labor that was automated out..?
You will have to rephrase your question, because I flatly do NOT understand it. Do YOU understand that America was the PIONEER in mechanization and automation? Do YOU understand that that is WHY and HOW we became the technological leader of the world?
 

Babylon

Former Staff
Apr 2007
11,780
5,915
Jersey
#45
You will have to rephrase your question, because I flatly do NOT understand it. Do YOU understand that America was the PIONEER in mechanization and automation? Do YOU understand that that is WHY and HOW we became the technological leader of the world?
Free to cheap labor and WWI had just as much to do with our rise..
 
Jan 2016
43,846
39,520
Colorado
#46
Free to cheap labor and WWI had just as much to do with our rise..
No. In the 19th century, American wages were higher than in any other country with the solitary exception of Britain, and we were rapidly catching up with Britain. That's because in the 19th century, America had a labor SHORTAGE. Which is why we were so much quicker to mechanize and automate. Because labor was SCARCE.
 

Babylon

Former Staff
Apr 2007
11,780
5,915
Jersey
#48
No. In the 19th century, American wages were higher than in any other country with the solitary exception of Britain, and we were rapidly catching up with Britain. That's because in the 19th century, America had a labor SHORTAGE. Which is why we were so much quicker to mechanize and automate. Because labor was SCARCE.
SO the 19th century meaning, from 1800-1900, American wages were the highest in the world? That's really what you're saying..?
 
Jan 2016
43,846
39,520
Colorado
#49
SO the 19th century meaning, from 1800-1900, American wages were the highest in the world? That's really what you're saying..?
As I said, except for Britain, and we were rapidly catching up with Britain, and had surpassed them by the end of the century.

This is all, by the way, THOROUGHLY documented in The Rise and Fall of American Growth, by Professor Robert Gordon (of Northwestern University), widely considered the world's leading expert on the measurement of productivity. I devour books on economics by the dozens, and in my opinion, this is THE most important work in economics of the last 20 years.
 
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