An economics, investment, trading and policy blog with a focus on Modern Monetary Theory (MMT). We seek the truth, avoid the mainstream and are virulently anti-neoliberalism.
"Judge it on the basis of how neoliberal each country is in its economic policy." ----------------- Precisely! The world is awash in propaganda posing as serious studies.
Seeing Austria at the top and PIIGS at the bottom my only feeling is "garbage". I am sure this chart is faked and the data is not controlled for the critical variables. At the very least if salary distribution is narrow then you can get high share of low-wage even though the definition of low is very skewed. The chart might be correct for the USA but please do not use it for a blind comparission
8 comments:
Wow, top 4 are all English speaking countries out of only 6 on the whole list. Maybe coincidence but its pushing it somewhat.
Judge it on the basis of how neoliberal each country is in its economic policy.
That thought had crossed my mind Tom... Thatcher and Reagan... low and behold the top 2 are...
Quite surprised Germany was that high up though in fairness.
"Judge it on the basis of how neoliberal each country is in its economic policy."
-----------------
Precisely! The world is awash in propaganda posing as serious studies.
Historically freer economies tend to attract and sustain those who would have otherwise been dependent on the state in other countries.
Wow, pretty damning.
Seeing Austria at the top and PIIGS at the bottom my only feeling is "garbage". I am sure this chart is faked and the data is not controlled for the critical variables. At the very least if salary distribution is narrow then you can get high share of low-wage even though the definition of low is very skewed. The chart might be correct for the USA but please do not use it for a blind comparission
Educational system?
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