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Rich countries will struggle to achieve the rises in living standards their citizens think are normal unless they sustain faster increases in economic efficiency,

Hold on. What rises in living standards ? as the rich increasingly capture more and more of the wealth, even in growing economies as the West have been for much of the last decade, median wage growth has been stagnant compared to the cost of living.

Economic efficiency is how the rich actually capture more of the wealth, by making everybody else's work less rewarded or secure. So economic efficiency and citizen's rising living standards are actually forces opposed to each other, not co-dependent.

so bugger efficiency, let's all put a spanner in the works and give a mechanic a job.

keep to the Fen Causeway

by Helen (lareinagal at yahoo dot co dot uk) on Tue Jan 15th, 2008 at 09:00:11 AM EST
[ Parent ]
Hey slaves, work faster if you want your crust of bread!

And they work faster.  Amazing!

In the end, might makes right. Nothing has changed since the caveman.

by THE Twank (yatta blah blah @ blah.com) on Tue Jan 15th, 2008 at 11:20:14 AM EST
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