Why Garbagemen Should Earn More Than Bankers
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Why Garbagemen Should Earn More Than Bankers
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Re: Why Garbagemen Should Earn More Than Bankers
#2http://money.cnn.com/2016/02/24/news/economy/trash-workers-h...
Some garbagemen do make $100000, more than some bankers (and some software engineers), as they rightly should, as described in this article.
Re: Why Garbagemen Should Earn More Than Bankers
#3[deleted]
Re: Why Garbagemen Should Earn More Than Bankers
#4> Nearly a century ago, economist John Maynard Keynes famously predicted that we would work fifteen-hour weeks by the year 2030
In 1930, when Keynes predicted the 15 hour work week, the average American earned $1,368/year which is roughly $19,500/year in todays dollars.
19500/52 = $375/week. In 1930, in manufacturing, the average person worked 50.6 hours per week. (https://eh.net/encyclopedia/hours-of-work-in-u-s-history/). so about $7.50/hour
In 2015 the average family income was $53657. 53657/52 = $1031/week But in 2015 the average person worked on average only 34.4 hours per week (http://fortune.com/2015/11/11/chart-work-week-oecd/) so just shy of $30/hour.
If modern Americans were content living at the same level of consumption as their 1930's counterparts they would only have to work 12.5 hours per week to earn that same $375 in purchasing power. Outdoing Keynes' prediction 15 years ahead of schedule.
Re: Why Garbagemen Should Earn More Than Bankers
#5> Nearly a century ago, economist John Maynard Keynes famously predicted that we would work fifteen-hour weeks by the year 2030 In 1930, when Keynes predicted the 15 hour work week, the average American earned $1,368/year which is roughly $19,500/year in todays dollars. 19500/52 = $375/week. In 1930, in manufacturing, the average person worked 50.6 hours per week. ( https://eh.net/encyclopedia/hours-of-work-in-u-s-hi…
60% of families are dual income. [1]
(53657/1.6) / 52 = $644. That makes the hourly rate $18.72.
So around 20 hours to make 1930's purchasing power.
Keynes prediction still ahead.
[1] http://www.pewresearch.org/fact-tank/2015/06/18/5-facts-abou...
Re: Why Garbagemen Should Earn More Than Bankers
#6I remember when they did this in Marseille a few years back and it didn't take a week but just a few days before huge trash piles in the streets, set on fire by bored kids, got cleaned up by the army.
Re: Why Garbagemen Should Earn More Than Bankers
#7> Nearly a century ago, economist John Maynard Keynes famously predicted that we would work fifteen-hour weeks by the year 2030 In 1930, when Keynes predicted the 15 hour work week, the average American earned $1,368/year which is roughly $19,500/year in todays dollars. 19500/52 = $375/week. In 1930, in manufacturing, the average person worked 50.6 hours per week. ( https://eh.net/encyclopedia/hours-of-work-in-u-s-hi…
60% of families are dual income. [1] (53657/1.6) / 52 = $644. That makes the hourly rate $18.72. So around 20 hours to make 1930's purchasing power. Keynes prediction still ahead. [1] http://www.pewresearch.org/fact-tank/2015/06/18/5-facts-abou...
Very true, I just did a quick Google search. Thanks for the link!
Re: Why Garbagemen Should Earn More Than Bankers
#8I wish there was a way to get rid of these bullshit jobs. Also, I wish there was a way to make entertainment business such as singing, acting, and sports much much less profitable.
Re: Why Garbagemen Should Earn More Than Bankers
#9> Some law firms even make a practice of buying up patents for products they have no intention of producing, purely to enable them to sue people for copyright infringement.
sigh copyright != patent
Re: Why Garbagemen Should Earn More Than Bankers
#10I wish there was a way to get rid of these bullshit jobs. Also, I wish there was a way to make entertainment business such as singing, acting, and sports much much less profitable.
There are very few people making a good living out of singing, acting or professional sports. So why would you care what they earn?