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.
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Wednesday, April 11, 2012
Mark Thoma —The US Has the Highest Share of Employees in Low Wage Work
"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
Wow, top 4 are all English speaking countries out of only 6 on the whole list. Maybe coincidence but its pushing it somewhat.
ReplyDeleteJudge it on the basis of how neoliberal each country is in its economic policy.
ReplyDeleteThat thought had crossed my mind Tom... Thatcher and Reagan... low and behold the top 2 are...
ReplyDeleteQuite surprised Germany was that high up though in fairness.
"Judge it on the basis of how neoliberal each country is in its economic policy."
ReplyDelete-----------------
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.
ReplyDeleteWow, pretty damning.
ReplyDeleteSeeing 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
ReplyDeleteEducational system?
ReplyDelete