I have been very remiss in my blogging over the past several weeks, but one of my resolutions for 2010 will be to make blog entries on a much more regular basis. I have been counseled to make shorter blog posts, and I expect to take this advice in 2010.
On the year-in-review edition of “Left, Right, and Center,” Tony Blankley and Matt Miller, representing the right and the center, respectively, both said that they feared a secular trend of reduction in US wage levels due to foreign competition. Robert Scheer, representing the left, demurred, saying that he thought the US continues to have good long-term economic prospects.
Scheer’s professed optimism on this point bothered me quite a bit, insofar as it might represent either naïvete or disingenousness on the left. I was also bothered, and continue to be bothered, by assertions, such as that made repeatedly by Al Gore during his unsuccessful bid for the presidency, that there is no conflict between environmentalism and economic growth. It does seem to me that US wages will be under downside pressure due to a worldwide overabundance of labor for the foreseeable future, and I remember thinking that this would be the case forty years ago, when I attended a conference of labor leaders at Penn State University.