3 ms·
So, to sum up... Our wages stopped rising in the 1970s, because: * Decreased demand for US workers — factories closing to move to other countries; technology r
by Hytosys 11y ago
So, to sum up... Our wages stopped rising in the 1970s, because:
* Decreased demand for US workers — factories closing to move to other countries; technology replacing human labor; increased capitalist competition with a global economy consisting of countries finally recovered from their wars
* Increased supply of US workers — the women's liberation movement; the continued influx of immigrants
The country's rotting social justice can successfully be expressed in terms of the prosperity of its workers.
- randomsearch 11y agoI'm not sure about the US, but the in UK you need to add to that the fact that inequality has soared, so the rich have taken more of the gains. A major cause of this problem is the regressive tax system that has been developed by successive governments in the UK.
- Hytosys 11y agoSorry, that was the point I was trying to make as well: https://thecurrentmoment.files.wordpress.com/2011/08/productivity-and-real-wages.jpg https://thecurrentmoment.files.wordpress.com/2011/08/product... The increasing gap between wages and productivity symbolizes growing exploitation — the inequality you're talking about.
- collyw 11y agoDon't you think that moving to a fiat money system has contributed?