{"id":191555,"date":"2009-07-26T14:01:00","date_gmt":"2009-07-26T19:01:00","guid":{"rendered":"https:\/\/www.panix.com\/~msaroff\/40years\/2009\/07\/26\/alan-bubbles-greenspans-capitalist-paradise\/"},"modified":"2009-07-26T14:01:00","modified_gmt":"2009-07-26T19:01:00","slug":"alan-bubbles-greenspans-capitalist-paradise","status":"publish","type":"post","link":"https:\/\/www.panix.com\/~msaroff\/40years\/2009\/07\/26\/alan-bubbles-greenspans-capitalist-paradise\/","title":{"rendered":"Alan &#8220;Bubbles&#8221; Greenspan&#8217;s Capitalist Paradise"},"content":{"rendered":"<p>In this Friday&#8217;s editorial, the <a href=\"http:\/\/www.nytimes.com\/2009\/07\/24\/opinion\/24fri1.html?partner=rss&amp;emc=rss&amp;pagewanted=all\"><span style=\"font-style: italic;\">New York Times<\/span> notes that the increase in the minimum wage is not sufficient<\/a>, and that jobs of tomorrow will not support a middle class lifestyle:<\/p>\n<blockquote style=\"color: rgb(0, 0, 153);\"><p>The minimum wage also sets a floor by which other wages are set. Keeping it low keeps wages lower than they would be otherwise, especially for jobs that are just above the minimum-wage level. That\u2019s a big problem for American workers because low-wage fields are the ones that are adding the most jobs.<\/p>\n<p>According to the Labor Department, <span style=\"font-weight: bold;\">5 of the 10 occupations expected to add the most jobs through 2016 are \u201cvery low paying,\u201d up to a maximum of about $22,000 a year<\/span>. They include retail sales jobs and home health aides. Another<span style=\"font-weight: bold;\"> 3 of the 10 are \u201clow paying,\u201d from roughly $22,000 to $31,000<\/span>, including customer-service representatives, general office clerks and nurses\u2019 aides.<\/p><\/blockquote>\n<p>(<span style=\"font-style: italic;\">emphasis mine<\/span>)<\/p>\n<p>We have created Alan Greenspan&#8217;s Randroid paradise here, where a living wage is only for the capitalists who make their money off of other people&#8217;s money.<\/p>\n<p>For the other <span style=\"font-weight: bold;\">80% of the population<\/span>, we have a life of debt servitude and peonage.<\/p>\n<p>H\/T <a href=\"http:\/\/uggabugga.blogspot.com\/2009\/07\/brad-delong-free-trade-paradise-is-just.html\">uggabugga<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>In this Friday&#8217;s editorial, the New York Times notes that the increase in the minimum wage is not sufficient, and that jobs of tomorrow will not support a middle class lifestyle: The minimum wage also sets a floor by which other wages are set. Keeping it low keeps wages lower than they would be otherwise, &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[973,975,985],"tags":[],"class_list":["post-191555","post","type-post","status-publish","format-standard","hentry","category-economy","category-employment","category-regulation"],"_links":{"self":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/191555"}],"collection":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/comments?post=191555"}],"version-history":[{"count":0,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/191555\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/media?parent=191555"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/categories?post=191555"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/tags?post=191555"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}