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Re:For first time since 1880s, more young Americans live wit... by toomuchtodo on Tuesday May 24, 2016 @05:55PM (#11765851)
http://i.imgur.com/7wtthxd.jpg

TL;DR Productivity is kept by corporations, wages are stagnant because of it, and the US doesn't have a strong labor political party.

Raise the minimum wage and index hours worked per week to productivity. Productivity goes up? People work less but make the same amount of income.

Re:For first time since 1880s, more young Americans live wit... by arx1v on Tuesday May 24, 2016 @06:11PM (#11765946)
Productivity gains came from capital, e.g. computers, automation, etc.

This makes labor less valuable, and decreases labour's negotiating power, preventing an increase in wage from an increase in productivity.

That is, if your work is augmented by a machine, then it's a hell of a lot easier to replace you.

Re:For first time since 1880s, more young Americans live wit... by toomuchtodo on Tuesday May 24, 2016 @06:14PM (#11765969)
Right. Labor = citizens. Citizens = votes. And as a society, we can decide to tax your productivity to provide for said citizens (Human being quality of life > profits).

Everyone so quickly forgets, "Let them eat cake."

Re:For first time since 1880s, more young Americans live wit... by FuckOffNeemo on Tuesday May 24, 2016 @08:45PM (#11766822)
I've never seen a more accurate sound (text?) bite for the challenges that today's labour market are facing.

These will only be exasperated further by the onset of automation and robotics in the coming generation(s).

I don't have a doubt that we could easily turn around the benefits of automation and robotics towards favouring the middle and working classes.

My concern though, is that the few that are currently gaining wealth from reduced labour costs in favour of productivity have a stronger grasp on where this wealth goes, than the majority outside of socialist strongholds like Scandinavia and some European states. And that trend will continue.

Edit: grammar, shit pre\post-tense structuring.

Re:For first time since 1880s, more young Americans live wit... by carsongross on Tuesday May 24, 2016 @06:46PM (#11766179)
Did Japan, who appears to be leading us by about a decade and a half, have the same issues?

I think the most likely culprit is what Steve Keen says it is: debt.

Re:For first time since 1880s, more young Americans live wit... by toomuchtodo on Tuesday May 24, 2016 @06:48PM (#11766191)
Surplus labor allows for the devaluing of labor. Japan doesn't have a surplus of labor (IMHO) due to lack of immigration and a quickly aging population.
Re:For first time since 1880s, more young Americans live wit... by kevin_thibedeau on Tuesday May 24, 2016 @10:21PM (#11767247)
Japan does have a labor surplus. That's why they have so many public sector make-work jobs doing things that could be automated or performed with fewer people.
Re:For first time since 1880s, more young Americans live wit... by toomuchtodo on Tuesday May 24, 2016 @10:25PM (#11767263)
Have details on this? My understanding is that Japan's unemployment rate is between 3.3 and 3.5 percent.
Re:For first time since 1880s, more young Americans live wit... by kevin_thibedeau on Tuesday May 24, 2016 @10:28PM (#11767276)
Unemployment is low because of the make-work programs that hide reality.
Re:For first time since 1880s, more young Americans live wit... by toomuchtodo on Tuesday May 24, 2016 @11:13PM (#11767440)
Can you provide citations or relevant links to where I can find information on these make-work programs?