"I believe if we have 4 percent a year of GDP growth, all these problems would get solved,” - Thiel" country productivity != well-being
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@wycats Thiel is right that flourishing companies and startups are essential, but GDP is a terrible measure for just about everything. -
@csuwildcat Improving overall productivity, efficiency, and innovation are great, but the gains don't accrue to the bottom. -
@wycats are you including the vast range of QoL increases, or just comparing other macro, aggregate measures like waged & disposable income? -
@wycats any assessment of worker status that lacks specific, detailed inclusion of QoL inputs and offsets is not representative of reality. -
@csuwildcat there have been several high quality studies that include those. The gap narrows but is still very large.
End of conversation
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@wycats@ferenstein I would love to see that graph redone with global instead of national numbers. I suspect the divergence goes away. -
@eaf4@ferenstein it seems to be changing even in countries that are historically better: https://www.google.com/url?sa=i&rct=j&q=&esrc=s&source=images&cd=&cad=rja&uact=8&ved=0CAcQjRxqFQoTCPXJ1oSjgMkCFRdRiAodaL4Idw&url=https%3A%2F%2Fmattcowgill.wordpress.com%2F2013%2F03%2F05%2Flabours-shrinking-share%2F&bvm=bv.106923889,d.cGU&psig=AFQjCNHt7yBgfVrdTsYjRK4ERiMgg4Fc0g&ust=1447053039963971 … -
@wycats@ferenstein That's another developed country. Bulk of wage growth and labor prod gains have been happening in developing countries.
End of conversation
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