(12-11-2011, 04:27 PM)Lissa Wrote: Well, looking up how Real GDP/capita is calculated, then Kan's comment about wanting wages at 50% of 10k or 43% of 50k is actually a strawman arguement since Real GDP/capita has no units of basis (it's strictly a percentage) and thus the US would actually be better off with the wages of Real GDP/capita of 1947 than it would be with the wages of Real GDP/capita of 2010 since the actual percentage calculated is takes into account inflation, deflation, and other monetary factors. So the real question that Kan should have asked is; are you happy with wages taking 43% of the GDP pie or would you rather they were 50% of the GDP pie? I think we all know the answer to that.
I do not understand this - any of it.
Real GDP/capita has units: inflation-adjusted dollars per person per year. It is not a percentage. Whatever else follows from that, must be equally mistaken.
-Jester