http://www.epi.org/blog/increase-index-minimum-wage/
the battle to boost the minimum wage is a state based affair and worth joining
if one is afoot in your state
now we have indexing to attach the min rate to ...but what index
cost of living some how defined seems the usual choice
but i note social security has a de facto superior ..however much it is obscured
the retirement system more or less sets your intial payment at a moving rate
based on hourly average value added
and that is indeed the equitably prefered choice
of course after the initial gearing of your payment you only get a cpi adjustment
and its rigged of course thanx to bill clinton's index reform
a soaring example of the new domocrats compasionate neo liberalism
alas all indxes can be rigged
master of the dance alan greenspan loved indexes and it was surely for that very reason
Comments (2)
Productivity.
Posted by g | February 4, 2012 9:50 PM
Posted on February 4, 2012 21:50
productivity = hourly average value added
the notion
on average the gearing sets
one hour's payment now
for one hour's job time then
if its done with average wage then to average wage now
and the share in value adde of wages has gone down ..itsw not so good
yes if the average share in VA of wages is up ...but it isn't up it's down
in fact we just hit the series low for wage and salary share*****
if we used change in median wage rates to set adjustments not average
we'd face the growing
median lag behind the average
median to mean ratio is itself
in record low territory
marxist call this relative immiseration
marx once refered to golden chains as a possible future
well they seem to be reverting to lead eh ?
--***** series began in 1947--
Posted by op | February 5, 2012 7:24 AM
Posted on February 5, 2012 07:24