tag:blogger.com,1999:blog-4900303239154048192.post4962972749769287197..comments2024-03-06T06:34:42.881-05:00Comments on EconoSpeak: Sandwichman's Lump-of-Labor Odyssey Part IIIUnknownnoreply@blogger.comBlogger1125tag:blogger.com,1999:blog-4900303239154048192.post-61371012246659030222016-01-23T18:35:37.444-05:002016-01-23T18:35:37.444-05:00A few years back the Governor of the Reserve Bank ...A few years back the Governor of the Reserve Bank of Australia was frequently in the media speaking about employment creation, among other things.<br /><br />He would go around every so often telling journalists how many jobs were created. Australia, as you might know, sort of escaped the downturn then hitting the rest of the developed world and the Governor was feeling cocky. The thing is, he would only speak of a couple of numbers. For some reason working conditions and pay were never mentioned, like all jobs were created equal.<br /><br />About that time, the Labor government finally learned (through the RBA annual report) the RBA Board had decided internally to increase the Governor's compensation package to a little over <i><b>AUD 1 million a year</b></i> (more than the Prime Minister, more than Ben Bernanke or President Obama, in the US).<br /><br />For some reason, that was the only job whose associated remuneration and working conditions the RBA Governor was really interested in and, given their policy of saying nothing about those matters, they never bothered telling the Prime Minister.Magpiehttps://www.blogger.com/profile/07528637318288802178noreply@blogger.com