Word: wage
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...benefits of putting more people in college are also oversold. Part of the college wage premium is an illusion. People who go to college are, on average, smarter than people who don't. In an economy that increasingly rewards intelligence, you'd expect college grads to pull ahead of the pack even if their diplomas signified nothing but their smarts. College must make many students more productive workers. But at least some of the apparent value of a college degree, and maybe a lot of it, reflects the fact that employers can use it as a rough measure...
...sure, it would be difficult to hack away at the funds needed to wage the wars in Afghanistan and Iraq. Yet military spending today is 41% more than it was in 1998, not even counting the billions earmarked for the wars. The cost of a standing military, after eliminating inflation's impact, has soared to $459,000 per trooper - 78% higher than during President Reagan's defense buildup, 95% higher than in 1989 and three times the Vietnam-era average, according to a recent study by the liberal-leaning Project on Defense Alternatives. (See video of soldiers in Iraq...
...workers say they have given up cost-of-living allowances, overtime after eight hours in place of wage increases, a holiday, some break time, the jobs bank and education benefits. Entry-level wages have been cut in half, which has translated to even lower production-labor costs. "We will not stand for further concessions negotiated by our representatives," proclaimed a resolution that was turned in for consideration at the UAW convention in June by workers from the Ford assembly plant in Chicago. "I've never seen people so frustrated," says a veteran UAW official in Detroit. "These are hard jobs...
...It’s best to be a rebel so as to show ’em it don’t pay to try to do you down...Factories sweat you to death, labour exchanges talk you to death, insurance and income tax offices milk money from your wage packets and rob you to death,” one book bluntly put it. Publicity materials for Osborne’s play invented a label for the group: they were to be referred to as the “Angry Young...
...Under pressure from the European Union, the Greek government has outlined a series of public-sector wage cuts and tax increases that are intended to help slash the deficit from the current 12.7% of GDP to the E.U. limit of 3% by 2012. While the impact of the new measures has yet to be felt, the delayed effects of the broader economic crisis are beginning to bite. The country slipped into recession last year and is now facing its worst economic contraction since 1987 - the last time Greece was forced to implement austerity measures following a previous round of government...