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OECD on employment protective laws
From: David Farber <dave () farber net>
Date: Tue, 11 Apr 2006 13:35:03 -0400



Begin forwarded message:

From: Steven Hertzberg <stevenstevensteven () gmail com>
Date: April 11, 2006 11:43:48 AM EDT
To: "'Russ Nelson'" <nelson () crynwr com>
Cc: "'Chris Beck'" <cbeck () pacanukeha net>, dave () farber net
Subject: RE: OECD on employment protective laws

Russ Nelson writes:
Globalization is nothing new.  It's a process that has been
going on for over a hundred years -- and during that time
wages have risen, not fallen.  Any theory of wages needs to
explain why this has occurred -- or it's trivially wrong.

Surely, you're not trying to say that the 1st world countries are
experiencing wage growth since int'l trade barriers were primarily lifted
over the last 10 years or so?  I think Ross Perot said it best when he
referred to the "giant sucking sound" to come in the USA. Certainly, the
rate of suck from the US is much faster than the rate of new similarly
paying jobs created through the development of new products and services and
markets.

Why do people think they're doing worse and worse when
they're actually doing better and better?  This is probably
the biggest unexplained conundrum in all of economics.  Maybe
the new field of behavioral economics can explain it.

Who is actually doing better?  Over what time frame are you making this
statement?  In what geographical region are you referring to?  Can you
please provide more specifis.



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