[extropy-chat] Seven cents an hour? (was: Riots in France)

[Brett Paatsch]

John K Clark wrote:

> "Jack Parkinson" <isthatyoujack at icqmail.com>
>
>> If, hypothetically, Wal-Mart was replaced by several thousand smaller
>> independent stores, all paying their employees a decent living wage,
>> and all competing to keep prices low, wouldn't the US be better
>> off in overall terms?
>
> NO! I rather doubt that Billy Bobs Pretty Good Hardware Store or any of 
> the
> thousands of other stores in your hypothetical could match Wal-Mart's
> legendary hyper efficiency; most economists agree that Wal-Mart can take
> credit for a big chunk of the productivity growth America had the good
> fortune to receive over the last 10 years, and productivity is the name of
> the game, it is the generator of wealth.

Which Americans shared in that wealth?  Is there reputable economic figures
for an improvement in living standards being enjoyed by more than 50 per
cent of Americans?

Brett Paatsch