The Human Action Podcast
Are Workers Being Paid Their Product? Watch Out for Misleading Charts
Tags The FedLabor and WagesUnemployment
Dr. Jonathan Newman joins Bob to break down the data used in a popular productivity vs. pay graph. They show why you should be wary of charts coming from agenda-driven institutions and how you can spot manipulated data.
The charts mentioned during this episode are available at: Mises.org/HAP414Charts
Join us in Fort Myers on November 4 to cut through the campaign talking points and offer an uncompromising look at what is coming next. Use Code "FL2023" for $10 off admission: Mises.org/FL23
Robert P. Murphy is a Senior Fellow with the Mises Institute. He is the author of numerous books: Contra Krugman: Smashing the Errors of America's Most Famous Keynesian; Chaos Theory; Lessons for the Young Economist; Choice: Cooperation, Enterprise, and Human Action; The Politically Incorrect Guide to Capitalism; Understanding Bitcoin (with Silas Barta), among others. He is also host of The Bob Murphy Show.
Dr. Jonathan Newman is a Fellow at the Mises Institute. He earned his PhD at Auburn University while a Research Fellow at the Mises Institute. He was the recipient of the 2021 Gary G. Schlarbaum Award to a Promising Young Scholar for Excellence in Research and Teaching. Previously, he was Associate Professor of Economics and Finance at Bryan College. He has published in the Quarterly Journal of Austrian Economics and in volumes edited by Matthew McCaffrey and Per Bylund. His research focuses on Austrian economics, inflation and business cycles, and the history of economic thought. He has taught courses on Macroeconomics and Quantitative Economics: Uses and Limitations in the Mises Graduate School. He is the author of two children's books: The Broken Window and Ludwig the Builder. His commentary appears regularly in the Mises Wire and Power & Market.