Wednesday, August 19, 2009
Today's WSJ lead headline says it all "Reluctant Shoppers Hold Back Recovery." It's all our fault, you see. We should be out there spending money we don't have and will never see. It really is us against them. Meanwhile, profit margins are being helped by "productivity," which is output enhanced by squeezing extra hours out of workers afraid of being laid off. I have been saying and writing for years, based on my adventurous wanderings among the world's executive class and the world's wealthy, that Marx might get another bite at the apple.