moon phases

Started this before change to "New Blogger", as backup in case of trouble with digiphoto blog "In a Small Dark Room", or rants & links blog "Hello Cruel World" . Useful - at one stage Dark Room was there, but like the astrophysical Dark Matter, we could't see it ... better now, but kept Just In Case.

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There is nothing. There is no God and no universe, there is only empty space, and in it a lost and homeless and wandering and companionless and indestructible Thought. And I am that thought. And God, and the Universe, and Time, and Life, and Death, and Joy and Sorrow and Pain only a grotesque and brutal dream, evolved from the frantic imagination of that same Thought.
Mark Twain (letter to Joseph Twichell after his wife's death)
[me, on a bad day]

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(and my Wish List)

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Supply and Demand (Goose & Gander Sauce)  
Supply And Demand
Wednesday, July 21, 2004
http://respectfulofotters.blogspot.com/2004_07_01_respectfulofotters_archive.html#109043406521044247

I'm still catching up on blog reading, so I almost missed Kevin Drum's hilarious economics contest (http://www.washingtonmonthly.com/archives/individual/2004_07/004329.php ) (also see below):

Supply and demand. Yes indeed. The labor market is a slave to supply and demand just like any other market, right?

Odd, then, that CEO pay rose 27% in 2003 ( http://moneycentral.msn.com/content/invest/extra/P83603.asp ), isn't it? Did the supply of CEOs shrink last year? Did demand skyrocket?

What's more, compared to average workers, who remain stuck in the invisible grip of Adam Smith, CEO pay has increased about 3x since 1990 and about 7x since 1980 ( http://www.commondreams.org/news2004/0414-10.htm ).

Is this the free market at work? That's what I'm told. So I have a contest in mind: a prize for the least laughable explanation for why CEO pay has gone up 7x since 1980 based on supply and demand ...

http://www.washingtonmonthly.com/archives/individual/2004_07/004329.php
July 18, 2004

WORKING CLASS WOES — PART 1....The New York Times reports that the working class isn't doing too well these days:

On Friday, the Bureau of Labor Statistics reported that hourly earnings of production workers - nonmanagement workers ranging from nurses and teachers to hamburger flippers and assembly-line workers - fell 1.1 percent in June, after accounting for inflation....In June, production workers took home $525.84 a week, on average. After accounting for inflation, this is about $8 less than they were pocketing last January, and is the lowest level of weekly pay since October 2001.

...."There's a bit of a dichotomy," said Ethan S. Harris, chief economist at Lehman Brothers. "Joe Six-Pack is under a lot of pressure. He got a lousy raise; he's paying more for gasoline and milk. He's not doing that great. But proprietors' income is up. Profits are up. Home values are up. Middle-income and upper-income people are looking pretty good." ...

Labels: money, society

[permalink] posted by Mez at 5:32 pm