Americans Are Overpaid

[Guest SUNTZU]

breakingviews: Americans are overpaid - Nov. 11, 2009

(breakingviews.com) -- U.S. workers are overpaid, relative to equally productive foreigners doing the same work. If the global economy is ever to get back into balance, that gap needs to be closed.

Of course, U.S. workers should earn more than their peers in China, Moldova, or Vietnam. The Americans take advantage of the higher productivity that makes their country rich: better education and infrastructure, abundant capital and a more developed work ethic. But how much higher should U.S. wages be?

The answer depends in large part on two measures: the difference in productivity in making goods that can be traded across borders, and the quantity of such tradable goods. Both measures point to a narrowing wage gap.

There are so many factors working to push up productivity in poor countries. Fast development, cheap capital, and more efficient shipping all help make foreign factories more competitive. Cheap global communication through the Internet reduces all sorts of costs and makes it easy to trade many more goods and especially services.

The global wage gap has been narrowing, but recent U.S. labor market statistics suggest the adjustment has not gone far enough.

Snipped with Charmin triple ply....

More at link above.

When will CNN and its followers be happy?.......

[poak]

<-Not Overpaid

Do I still get to retain my citizenship?

[Guest H0TSH0T]

i think we may just be over charged, lol, seriously in some countries a single U.S.1$ can pay for a weeks worth of food, explain how we cant get the same here.

[TGO David]

i think we may just be over charged, lol, seriously in some countries a single U.S.1$ can pay for a weeks worth of food, explain how we cant get the same here.

A week's worth of food at $1.00 in some third world hole generally consists of rice, flour or corn meal (if they are lucky), powdered milk (again if they are lucky) and whatever bugs and rodent droppings may be within all of the above.

A weeks worth of food in the USA is a little better quality than that, even if you're on government subsidized meal programs.

[strickj]

i think we may just be over charged, lol, seriously in some countries a single U.S.1$ can pay for a weeks worth of food, explain how we cant get the same here.

Well,might have something to do with this...

And besides,you can eat for a week on a couple dollars....

But instead we choose things like...

[LagerHead]

Now I have seen the light. And here my silly butt was thinking that in a free market economy you were worth whatever you could successfully negotiate. How silly of me.

[Guest SUNTZU]

I don't give a *&%# what the REST of the world thinks of us. They all scream, "You don't give us enough attention!" followed immediately by, "You're such an a$$hole!" @#$% em.

[TNTitan]

hey.. as the dollar continues to devalue - we effectively make less and less every day. The "Gap" referred to in the OP is closing!

[analog_kidd]

We're going to need all that income to pay for the taxes our leaders have in store for us.

[Guest TurboniumOxide]

Yes, I am paid more than a slave is paid.

[NuTcAsE]

We should really be ashamed that we make more than the third world.

Oh' the excess!! When will we ever stop????

[Guest emaho44]

Well, it is true that we (USA) make up about 5% of world population, yet we manage to consume about 30% of resources anually, and produce almost 50% of global waste. Maybe we are overpaid---or just haven't learned to make good use of our incomes. And why are we, as a society, so overwhelmed by debt?

[LagerHead]

Well, it is true that we (USA) make up about 5% of world population, yet we manage to consume about 30% of resources anually, and produce almost 50% of global waste. Maybe we are overpaid---or just haven't learned to make good use of our incomes. And why are we, as a society, so overwhelmed by debt?

We also create about 30% of the world's economy. The above numbers aren't as shocking when you realize that.

[poak]

We also create about 30% of the world's economy. The above numbers aren't as shocking when you realize that.

That was my exact thought, but I didn't know what the percentage was.

[TNTitan]

Well, it is true that we (USA) make up about 5% of world population, yet we manage to consume about 30% of resources anually, and produce almost 50% of global waste. Maybe we are overpaid---or just haven't learned to make good use of our incomes. And why are we, as a society, so overwhelmed by debt?

Because we are gluttonous with little self control.

[Guest TurboniumOxide]

I am in the black. Whoops, that has GOT to be racist. I'm so ashamed.

[Guest SUNTZU]

Well, it is true that we (USA) make up about 5% of world population, yet we manage to consume about 30% of resources anually, and produce almost 50% of global waste. Maybe we are overpaid---or just haven't learned to make good use of our incomes. And why are we, as a society, so overwhelmed by debt?

I started typing a response about our duty to the world when I realized I don't give a **** about what the rest of the world thinks about my money or what I do with it.

[Mark@Sea]

I don't care to be dragged through someone elses' guilt trip.

[Fivestring63]

This reminds me of a quip during WW2. The British would complain to the Americans about being over paid, over sexed and over here. The American answer would be your under paid, under sexed, and under Eisenhower.