Jordan Strassner Anthro 2 Movie Notes 10/21/11 • This economic crisis is not a financial crisis • The crisis comes out of the entire economic system of the United States • The recent crisis is being compared to the Great Depression of the 1930s • In 1989, Japan went through a depression that they have still have not recovered from • The American worker has enjoyed wage increases every decade since the beginning of the 1900s • American exceptionalism – the notion that there is something unique and special about the country • We are the society of consumption and we have a rising standard of consumption • As real wages increased, worker output increased as well because there was greater incentives with greater wages • In the 1970s, real wages stopped growing and have still not changed since • Wages stopped going up because: o We had a stunning technical change that caused people to lose their jobs when the computer was invented o American businesses discovered that a pleasant period of time had come to an end
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This note was uploaded on 11/13/2011 for the course ANTH 2 taught by Professor Hindes during the Fall '08 term at UCSB.