Comment 52243

By arienc (registered) | Posted November 26, 2010 at 09:09:35

This is part and parcel of selling ourselves out to wholesale corporatism.

It's hidden inflation. Inflation statistics include "hedonic" adjustments for so-called productivity improvements (a modern computer is considered to have an economic value of hundreds of times that of the old 486, hence it is considered to decrease the overall inflation rate).

Meanwhile, the goods and services received from corporations are debased. Service is removed for all but the highest price items, shopkeepers hire minimum wage help instead of knowledgeable support.

If inflation statistics were calculated honestly, it would be clear that North America has been in an economic slump of low or no real growth since the 70's.

Government so often gets the blame for this inflation, but government (taxes) continue to take up a shrinking share of the economy, while corporate profits take on an ever-larger share.

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