Re: OT: Oil Industry Execs Suggested Invasion

RichL wrote:
Les Cargill <lcargill@xxxxxxxxxx> wrote:

In the US, actual wages have been stagnant or
dropping for years.
That's arguable. Median incomes grow more slowly
than mean incomes because of how income
distributions work. Wages in what are considered
"old" industries drop as price suppression
escalates.

Couldn't help but notice this one...

What does that say about the underlying distribution?

That it is what it is. The top-earners in boom times
are people who park themselves closest to government policy
to "improve" income distribution. The Humphrey-Hawkins
Full Employment Act of 1979 made employment a metric
the Fed was then responsible for.

I expect this basic, untampered-with distribution is
like unto a population dynamics metric. But I haven't
proven that.

Yet.

Increasing separation between the mean and median implies that the
high-income tail is separating from the rest of the pack.


Yeah, and that's most likely an artifact of the information-bearing
properties of transactions. Best as I can tell.

It may be true, of course, but it's neither necessary nor desirable.
History has its own way of dealing with such inequities if they're not
addressed by less violent means...



"History" never has done this properly. The 1776 American
Revolution is about the last one that wasn't a disaster.

Hauling people up to a guillotine is always the wrong
answer.

--
Les Cargill
.

Relevant Pages

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