tag:blogger.com,1999:blog-8897997766931633186.post5667740990284315457..comments2024-02-14T03:21:37.506-05:00Comments on Monetary Freedom: Selgin and Dougherty's DiagramsBill Woolseyhttp://www.blogger.com/profile/06330232724290161369noreply@blogger.comBlogger4125tag:blogger.com,1999:blog-8897997766931633186.post-57027743608553728962012-07-11T21:16:46.511-04:002012-07-11T21:16:46.511-04:00Oliver:
Rather than look at those charts, I would...Oliver:<br /><br />Rather than look at those charts, I would look at my last chart. Can you see evidence of the spikes in the minimum wage?<br /><br />Keep in mind that few workers earn the minimum wage. Of course, I will grant that they would tend to be nonsupervisory or production workers.Mayor Bill Woolseyhttps://www.blogger.com/profile/15439136665155575382noreply@blogger.comtag:blogger.com,1999:blog-8897997766931633186.post-2228786176919035402012-07-11T15:03:09.500-04:002012-07-11T15:03:09.500-04:00"Is this consistent with the decline in labor..."Is this consistent with the decline in labor share of national income during the Great Moderation?"<br /><br />If wage rates grow more slowly than nominal GDP,that would tend to reduce the share of wage income in nominal income. I don't know about labor compensation,on the other hand.Bill Woolseyhttps://www.blogger.com/profile/06330232724290161369noreply@blogger.comtag:blogger.com,1999:blog-8897997766931633186.post-47186111279242644272012-07-11T12:21:14.216-04:002012-07-11T12:21:14.216-04:00"Unfortunately, nominal GDP has been growing ..."Unfortunately, nominal GDP has been growing faster than hourly wages for a long time. Below is a chart looking at the growth rates of both and the trends from the Great Moderation (1985 to the end of 2007."<br /><br />Is this consistent with the decline in labor share of national income during the Great Moderation?Michael Byrneshttps://www.blogger.com/profile/10782499619253103724noreply@blogger.comtag:blogger.com,1999:blog-8897997766931633186.post-44365276460748816522012-07-11T11:14:53.151-04:002012-07-11T11:14:53.151-04:00Does the difference between the first and second c...Does the difference between the first and second charts implicate the rise in minimum wage?JWOhttps://www.blogger.com/profile/00004178958481335795noreply@blogger.com