What's Next? Semiconductor Leaders Speak, Part 2

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Rich Krajewski
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Golden Age
Rich Krajewski   7/18/2014 1:00:59 PM
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"The last Golden Age of free market economy occurred in the US from 1950 to 1970."

What do you think were the characteristics of the last Golden Age that are not present now?

apek
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Re: Golden Age
apek   7/18/2014 1:05:46 PM
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Rich, In last golden age called the golden era of free market capitalism...wages caught up with productivity ensuring balanced economy. However, Then taxes were high on rich...the maximum tax rate on wealthiest Americans was 92%. Today, wages trail productivity. In my upcoming book, I have showed a way to bring back free markets so that wages catch with productivity with low taxes on all Americans and with smaller government.

Rich Krajewski
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Re: Golden Age
Rich Krajewski   7/18/2014 1:10:57 PM
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For wages to go up in the US, wages are going to have to go up everywhere else, too, because of so-called free trade. In fact, they're probably going to have to start climbing outside the US first.

apek
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Re: Golden Age
apek   7/18/2014 1:32:47 PM
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Rich...they will have to go up first in US and grow in proportion to productivity of employees. Only then can US have a free market economy

Rich Krajewski
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Re: Golden Age
Rich Krajewski   7/18/2014 1:41:08 PM
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Doesn't seem to be happening that way.

Rich Krajewski
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"Only 63% of American adults are in labor force"
Rich Krajewski   7/18/2014 1:51:43 PM
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"As of June, only 63% of Americans over age 16 participate in the labor force, meaning they either have a job or are actively looking for one. That number is around its weakest level since the early 1980s.....White House expects the labor force participation rate will flat-line and then continuing falling...."

http://fox2now.com/2014/07/17/only-63-of-american-adults-are-in-labor-force/

Isn't productivity meaningless when there are not enough jobs?

apek
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Re: "Only 63% of American adults are in labor force"
apek   7/18/2014 6:36:08 PM
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Very true. Profound macroeconomic reforms have become urgent to avoid another economic crisis like 2007 crash



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