During this past Friday’s episode of Quality Digest Live, our weekly web TV show, QD editor in chief Dirk Dusharme and I covered stories about the gig economy and the skills gap and workforce shortages within manufacturing, especially as it relates to metrology, which is the science of measurement.
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For the final segment of the show, as we are wont to do, we went “off-script” to further delve into these important topics and others that speak to people’s unique and fast-changing relationships to work. Our extended conversation also touched on apprenticeships, universal basic income, minimum wage increases, and the ability (or inability) for those in the middle class to earn comfortable retirements following their working lives. You can see the video here:
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Comments
Economics!????
Excellent commentary... The only item I would treat with some degree of skepticism is the MarketWatch graph. Ignoring the fact that there is an approximately 4.5 scaling factor between the two charts, any time you are comparing two variables as percentages of a floating baseline and there are other independent components which contribute to that baseline, the results are, at best, questionable. Energy costs alone have varied greatly over the encompassed time span. Let us also not overlook the fact that there can be a great difference between "wages" and "total compensation", and even more so compared over time.
Ask five economists and you'll get five different answers - six if one went to Harvard. - Edgar R. Fiedler
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I enjoyed reading your excellent article which resonates with a recent Quality Digest article "Do CEO's Deserve Their Pay" Interestingly, Adam Smith is known as an economist but was actually a moral philospher and is actually studied more in this regard than economics.
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