A governmental policy of easy immigration and a lack of union pressure keeps low wage worker salaries low.

In a market economy, wages aren’t determined by wishful thinking

yawningbread.wordpress.com 07 May '12, 10pm

A governmental policy of easy immigration and a lack of union pressure keeps low wage worker salaries low.

It hit me yesterday that we are at risk of brandishing the term “productivity” as if we truly understand what it is and, more importantly, how it is measured. It is a very technical thing, and from what I understand, there are serious difficulties in measuring it. I myself am in no position to explain it to you. But I am given to understand that while methods for determining Total Factor Productivity are reasonably advanced and established at the level of national accounts, they can get devilishly difficult at sectorial or industry levels. Even more so at the level of a company. And yet, the prime minister’s rejoinder to economist’s Lim Chong Yah’s idea to raise the wages of low-income workers by 50 percent over three years, was to link the wages of lower-level workers to productivity gains. But I do not agree with his drastic approach because the only realistic way to lif...

Full article: http://yawningbread.wordpress.com/2012/05/08/in-a-market-...

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@angmohlian » 09 May '12, 3am
"@mrbrown: [link] A governmental policy of easy immigration & lack of union pressure keeps low wage worker salaries low.” BS
@DanialKimchi » 09 May '12, 3am
RT @mrbrown: [link] A governmental policy of easy immigration and a lack of union pressure keeps low wage worker salaries low.
@mrbrown » 09 May '12, 3am
[link] A governmental policy of easy immigration and a lack of union pressure keeps low wage worker salaries low.
@singaporesurf » 08 May '12, 1am
In A Market Economy, Wages Aren’t Determined By Wishful Thinking: Alex Au, Yawning Bread: Talking about using... [link]
@mediumshawn » 07 May '12, 10pm
In a market economy, wages aren’t determined by wishful thinking [link] #singapore
@j3rmie » 09 May '12, 8pm
RT @mrbrown: [link] A governmental policy of easy immigration and a lack of union pressure keeps low wage worker salaries low.
@qing_hui » 09 May '12, 11am
RT @mrbrown: [link] A governmental policy of easy immigration and a lack of union pressure keeps low wage worker salaries low.
@Michael_LST » 09 May '12, 5am
RT @mrbrown: [link] A governmental policy of easy immigration and a lack of union pressure keeps low wage worker salaries low.
@dzus77 » 09 May '12, 4am
RT @mrbrown: [link] A governmental policy of easy immigration and a lack of union pressure keeps low wage worker salaries low.
@sliderdimension » 09 May '12, 3am
RT @mrbrown: [link] A governmental policy of easy immigration and a lack of union pressure keeps low wage worker salaries low.
@angmohKlA » 09 May '12, 3am
RT @mrbrown: [link] A governmental policy of easy immigration and a lack of union pressure keeps low wage worker salaries low.
@adesabrina » 09 May '12, 3am
RT @mrbrown: [link] A governmental policy of easy immigration and a lack of union pressure keeps low wage worker salaries low.
@screaminlife » 09 May '12, 3am
RT @mrbrown: [link] A governmental policy of easy immigration and a lack of union pressure keeps low wage worker salaries low.
@yapphenghui » 08 May '12, 8am
In a market economy, wages aren’t determined by wishful thinking [link]