August 28 headline in the New York Times:
Real Wages Fail to Match a Rise in Productivity
Yesterday's headline in the Boston Globe:
Pay outpaces productivity; inflation feared
Then there's today's headine in the Washington Post:
Jobless Rate Is Lowest Since '01
As Don Boudreaux of Cafe Hayek points out here, this month's fear that wages are outpacing productivity (and threatening inflation) apparently offsets August's fear that producitvity was outpacing wages. Funny, isn't it?
Cross-posted at Liberty & Power.
The two fears are probably felt by considerably different groups of people.
ReplyDeleteMaybe. I was referring to the lame news coverage, which is incapable of integrating anything.
ReplyDelete