CEPR has posted my short note showing that part of the reason that the strong productivity growth of the last six years has not translated into wage growth is due to a graowing share of depreciation in gross output and the difference between the output deflator and the consumer price index. After adjusting for these factors, "usuable" productivity in the current cycle has been 1.85 percent annually (soon to be revised down by 0.1percentage point, due to the benchmark revision showing considerably higher employment growth). This is about 0.7 percentage points below the rate of growth of usable productivity in the sixties.
"FEMINISTS" AGAINST WOMEN. Admittedly, when it comes to illogic on the part of supporters of criminalized abortion, the rape and incest exemptions are relatively small potatoes. What really gives away the show is their unwillingness to apply criminal sanctions against women who are allegedly committing something akin to murder. Hack politicians, of course, respond to questions about how the Republican Party platform can support a constitutional amendment that would make abortion first-degree murder in all 50 states but would entirely exempt women from punishment by babbling nonsense.
LIBERTARIAN SWINGERS.ViaAndrew Sullivan comes this bit from Cato's new report on the next big swing group: "Libertarians preferred George W. Bush over Al Gore by 72 percent to 20 percent, but Bush�s margin dropped in 2004 to 59-38 over John Kerry...The political party that comes to terms with than can win the next generation."
"I'M WITH FUZZY." Great things are happening in my onetime adopted home state of Wisconsin. First of all, there was Russ Feingold with the new Air America Morning Zoo crew this morning, talking about how the Democratic senatorial caucus talks big in public, and then folds in private, usually on the advice of consultants "with connections to the previous Democratic administration."
JUST POSTED ON TAP ONLINE: CENTER-LEFT FOREIGN POLICY RUMBLE. In the October print issue of the Prospect, James Lindsayreviewed two new books purporting to offer alternative foreign policy visions to both neoconservatism and "liberal hawk" interventionism -- Michael Lind's The American Way of Strategy and Anatol Lieven and John Hulsman's Ethical Realism. Today, the authors of those books respond -- vigorously -- to Lindsay.
EXPORTING AMERICAN VALUES. Today in Baghdad, according to the Associated Press, gunmen stormed a Sunni television station and killed 11 people. "It was the second attack on a television station in the capital in as many weeks," reports AP writer David Rising.
YOUTUBE THROUGH THE AGES. There's an interesting piece by Sam Howe Verhovek in today's L.A. Times about trackers, those (typically young) campaign staffers tasked with carrying audio or audio-visual equipment to their opponents' public events and taping their every utterance. Their goal is simple: Trail after opponents in hopes of catching them saying something contradictory, stupid or malicious -- or trifecta: all three! S.R. Sidarth stands as America's most famous tracker, at least for the moment. But he's certainly not alone.
Everyone knows that the dynamic U.S. economy generates new jobs at a much faster pace than the sclerotic economies of "Old Europe." Well everyone is wrong. Since 2000, Old Europe (the EU-15) have generated jobs at a 0.9 percent annual rate compared to a 0.7 percent rate in the U.S.. This follows a decade in which job creation was considerably more rapid in the U.S. than Europe, but for at least the last half decade, Old Europe has been winning the job creation race.
AMERICAN POWER. Responding to a relatively unobjectionable Tom Friedmancolumn calling for "Russia and China [to] get over their ambivalence about U.S. power", Mattnotes that "ambivalence about U.S. power is a natural thing for Russia and China to feel."