All You Need to Know

Whenever someone starts blubbering on about marginal productivity, the minimum wage, or anything else, keep the following in mind:

average hourly earnings for production and non-supervisory employees, all private sector.

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2 responses to “All You Need to Know

  1. Bet they used CPI, i.e. an index that overstates inflation by around 1%. Simple propaganda economics-

    1. Find some data.

    2. Find a suitable index

    3. Use the index on the data to produce an “impressive” new statistic.

    4. Call this statistic “real”.

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