HispanicPundit + productivity   26

Rationally Speaking | Official Podcast of New York City Skeptics - Current Episodes - RS 236 - Alex Tabarrok on "Why are the Prices So D*mn High?"
The argument that the lack of drastic productivity gains in professional industries like healthcare and education are the primary reason for the long rise in costs vs other theories.
productivity  healthcare  costs  Education  free-college  tabarrok  podcasts  RationallySpeaking  baumol 
10 weeks ago by HispanicPundit
Where Worker Productivity Really Comes From, Bryan Caplan | EconLog | Library of Economics and Liberty
So that's my story.  The foundation of the modern economy is not teachers, but craftsmen and bosses.  Not book learning, but experience and leadership.  Not studying, but doing and directing.  As a professor, this doesn't do much for my ego.  But why should everything be about me?
productivity  Education  Caplan  hanushek  debates 
april 2018 by HispanicPundit
Why Do Firms Prefer More Able Workers?, Bryan Caplan | EconLog | Library of Economics and Liberty
After putting the puzzle on the table, Romer offers an elegant solution: Firms prefer more able workers because pay is more equal than productivity. Why? Because inequality hurts morale of lower-paid workers. After presenting a mathematical model to show that his story is internally consistent, Romer discusses empirical evidence in favor of his story. He starts by surveying "observers of the labor market":
labor  romer  caplan  wages  productivity 
october 2013 by HispanicPundit
Will The End of Sleep Reduce Wages? , Garett Jones | EconLog | Library of Economics and Liberty
What happens when something gets more valuable? People try to accumulate more of it. And what happens when the economy accumulates more capital? All those extra machines probably make workers more productive, boosting labor demand and therefore raising wages.

So sleep reduction drugs like Modafinil push down wages in the short run, but that increases the demand for capital which pushes wages back up in long run. If the economy is straighforwardly scalable--if doubling the machines and work hours exactly doubles output--then the sleep reduction drug will have exactly zero effect on long run hourly wages.
wages  immigration  productivity  labor  jones  sidebar 
january 2013 by HispanicPundit
Wages, Productivity, Rates of Return, and Investment: Quick Thoughts
Note finally (under this point (5)) that high rates of immigration or amounts of trade with low-wage nations cannot explain any failure of wages to keep pace with increased worker productivity in the U.S.  Yes, U.S. employers undoubtedly love the possibility of hiring lower-paid immigrants, or threatening their current American employees with off-shoring whenever these employees press for pay raises.  Employers’ exercise of such options might keep real wages lower for a time, but employers’ successful exercise of these options raises the real return to capital.  What must be explained is why this (alleged) failure of real wages to keep pace with worker productivity has not called forth sufficient new investment to bid down the returns to capital so that capital’s share of national income is once again at its historical norm.
middleclass  sidebar  boudreaux  CrookedTimber  wages  productivity 
september 2012 by HispanicPundit
In passing, it's interesting to note that McWage jobs pay so much more in western Europe than in the U.S., Canada and Japan. But let's pursue the highlighted theme: How can the same job with the same output and the same technology pay more in one country than in another? One part of the answer, of course, is that you can't hire someone in India or Sough Africa to make you a burger and fries for lunch. But at a deeper level, the higher McWages in high-income countries is not about the skill or human capital in those countries, but instead reflects that the entire economy is operating at a higher productivity level.
mcdonalds  sidebar  timtaylor  productivity  fundamentals  wages 
june 2012 by HispanicPundit
Dani Rodrik's weblog: There is something very wrong with this picture
Labor productivity increased by 78 percent between 1980 and 2009, but the median compensation (including fringe benefits) of 35-44 year-old males with high school (and no college) education declined by 10 percent in real terms.

Women have done in general better, but two-thirds of women still have seen their pay lag behind productivity.
productivity  wages  genderissues  rodrik  sidebar 
may 2011 by HispanicPundit
How much productivity growth was there during 2007-2009?
1. Productivity statistics aren’t well set up to cover outsourcing.
productivity  cowen  sidebar 
april 2011 by HispanicPundit
Growing Productivity, Stagnating Compensation | Angry Bear
The second remarkable feature of this table is that the vast majority of the gap between productivity and hourly compensation comes from the 1980s and 2000s, while during the 1990s workers shared in productivity gains nearly as fully as they did in the 1960s. And that, of course, leads us directly to the $64,000 question: what was it about the 1980s and 2000s that made it so difficult for workers to reap the fruits of their more productive labor?
wages  productivity  history  klein  AngryBear  sidebar 
march 2011 by HispanicPundit
Still Too Shy And Retiring | Economics | The American Scene
n any event, the point is that the problem is a real one. There are only three general categories of solutions to the problem of too many non-workers living off too few workers: (1) allow living standards to fall (nobody likes this, but it will happen inevitably if nothing else is done); (2) increase the productivity of the existing workforce (easier said than done); and (3) increase the number of workers.
social-security  yglesias  productivity  AmericanScene  sidebar 
february 2011 by HispanicPundit
Marginal Revolution: Investing in the Poor
On the economics of owning the future earnings of people.
poverty  productivity  books  slavery  hanson  tabarrok  sidebar 
may 2010 by HispanicPundit
Measured Productivity and Actual Productivity, Arnold Kling | EconLog | Library of Economics and Liberty
"Is measured aggregate productivity accurate? Probably not, but I can think of important reasons that it would be understated as well as overstated."
productivity  fundamentals  kling  sidebar 
december 2009 by HispanicPundit
Will a ‘Millionaire Tax’ Cause an Exodus of Talent? - Economix Blog - NYTimes.com
"The problem with a tax on millionaires is that the economic success of a region is closely tied to its ability to attract highly skilled workers. "
taxes  productivity  glaeser  economix  sidebar 
april 2009 by HispanicPundit
CARPE DIEM: American Manufacturing Workers Are World-Class
"Not only are American manufacturing workers probably the most productive in the world, they keep gaining on workers in other countries. "
productivity  world  USA  Globalization  perry  sidebar 
september 2008 by HispanicPundit
Megan McArdle (June 16, 2008) - Do unions cost productivity?
"So even if you argue that unionization won't cost productivity at the level of the individual firm, once you get up to the industry or economy level, a policy of encouraging broad unionization will still reduce overall productivity."
unions  productivity  klein  McArdle  sidebar 
june 2008 by HispanicPundit
CARPE DIEM: Real Compensation HAS Risen With Productivity
"Over the past forty years compensation per hour and output per hour—that is, productivity—have moved almost in unison. Productivity rose 110% since 1968, and total compensation rose 103%."
wages  labor  productivity  perry  sidebar 
june 2008 by HispanicPundit
EconLog, Unions and Productivity, Arnold Kling: Library of Economics and Liberty
"In the private sector, I would look for the adverse economic consequences of unions to show up in the inter-firm allocation of labor. Firms in the union sector will pay too much in wages and hire too little labor. The workers they don't hire will end up
unions  productivity  klein  Kling  sidebar 
june 2008 by HispanicPundit
CARPE DIEM: Increases in Productivity Have Caused Job Losses
" one of the most significant factors in the recent decline of American manufacturing jobs is the significant increase in productivity of U.S. workers. "
nafta  productivity  perry  sidebar 
march 2008 by HispanicPundit
CARPE DIEM: U.S. Productivity Growth Is The Highest in 4 Years, Real Compensation Up by 2.7%
"The BLS also reported that real compensation, adjusted for inflation, rose 2.7% in the third quarter, well above the average of 2.08% over the last ten years."
economy  productivity  wages  sidebar 
november 2007 by HispanicPundit
EconLog, Economic Growth: Can You Give an Answer a Five-Year-Old Could Understand?, Bryan Caplan: Library of Economics and Liberty
"So, dear readers, here's my challenge: In the comments, can you write an economically sound answer to the question "When Did Life For the Poor Get Better?" that a five-year-old could understand? 150 words or less!"
economic-growth  productivity  labor  History  sidebar 
september 2007 by HispanicPundit

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