Friday, November 04, 2005
Nothing but bad news
Here is one blogger's report (Newmark's Door) of the good news on U.S. productivity growth.The old media (today's LA Times, for example) has a very different take: "Third-quarter data beat expectations, but the fact that wages trail inflation may be making workers uneasy. ... U.S. workers in recent years have been pressed to produce more, although often for modest wage increases ... ."
In truth, these data are more impressive that the recent GDP results. Did the Bush tax cuts do more good than harm? It is beginning to look that way.
Some of the evidence is the convoluted economic reporting cited above.
