Tuesday, November 12, 2013

Real Unit Labor Costs in Europe and the US

Graph above show the evolution of Real Unit Labor Costs (RULC) in France (top line) and the US (bottom) from 1970 until 2012. Unit labour costs measure the average cost of labour per unit of output in real terms. If you think the stagnation in the US is bad, note the collapse in France in the 1980s, during the Socialist government of François Mitterrand. Most of the Neoliberal adjustment took place way before the euro per se.
By -
Labels: , , ,

1 comment:

Subscribe to: Post Comments (Atom)

A short note on fiscal regimes and fiscal policy

There is a reasonable debate about how much taxes matter. Most economists would agree that taxes do matter. However, the way in which taxes ...

  • A reply to Wray - Part I
    By Sergio Cesaratto (Guest Blogger) “The fact that individual countries no longer have their own currencies and central banks will put n...
  • Blog Moving to Substack (and first post)
    "Where is Everybody?" The blog will continue here for announcements, messages and links to more substantive pieces. But those will...
  • Hyperinflation in Bitcoinland
    There are Gold Bugs and there are  Bitcoin Bugs. They all oppose fiat money (hate the Fed and other monetary authorities) and follow some s...