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  • From: Michael Czeiszperger <michael AT czeiszperger.org>
  • To: "Internetworkers: http://www.ibiblio.org/internetworkers/" <internetworkers AT lists.ibiblio.org>, thomas AT tbeckett.com
  • Cc:
  • Subject: Re: [internetworkers] Economic growth figures rigged?
  • Date: Mon, 12 Apr 2004 21:28:07 -0400


On Apr 12, 2004, at 8:37 PM, Thomas Beckett wrote:

I also cringe when I hear about job loss due to increased productivity from American workers. That essentially means that fewer people are doing more work -- the workload of the laid off -- for the same or less money. People working desperately hard so as not to get laid off themselves.

According to the article in the Economist sited earlier the idea that we're seeing an increase in GDP based on worker productivity, but yet have not seen an increase in job gross is unprecedented. At all other times countries with an increase in productivity have also seen an increase in job growth. It is much more likely that the GDP numbers are false than the US has suddenly broken all the economic rules.

Another area that looks suspicious is that in the past 50 years increases in the economy due to the goods and services sector have tracked in lockstop with the increases in the manufacturing sector. In 2002 this correlation was dumped on its head, when the goods and services sector increased by a factor of 4 in relation to the manufacturing sector. The economist in the article found it highly suspicious that while the output of the manufacturing sector in the US was based on industry reports, and thus were based on hard data, the output from sectors that were based on gross estimates had seen enormous increases.

___________________________________________________________________
michael at czeiszperger dot org
Chapel Hill, NC





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