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Just be a creditor (let me mark that statement with a heavy /s sarcasm tag). Most people might be losing their fair share of the pie in the current economic st
by CraigJPerry 6y ago
Just be a creditor (let me mark that statement with a heavy /s sarcasm tag).
Most people might be losing their fair share of the pie in the current economic strategy but the creditor class has made out like bandits over the past 30+ years with no end in sight.
Talk about free market ideals but socialise all losses with corporate bailouts. It’s just win win win.
The only game in town today is “maximise shareholder value”. The pre-70s concepts of keep wages growing in lock step with capital’s gains (since the theory goes that boosts consumption and that keeps the world turning) has gone out the window.
Capital takes 100% of the growth. Labour is easy to keep distracted - divide and conquer: “Hey, gay people/single mothers/people from other countries/people with brown eyes are taking free stuff at your expense...”
- andromeduck 6y agohttps://www.reddit.com/r/badeconomics/comments/6rtoh4/productivity_pay_gap_in_epi_we_trust/ https://www.reddit.com/r/badeconomics/comments/6rtoh4/produc...
- CraigJPerry 6y agoWould it be fair to summarise that post as “they’ve cherry picked the graph to make it look worse than reality, but their point still stands - productivity growth hasn’t trickled down to most workers” ? https://www.epi.org/publication/understanding-the-historic-divergence-between-productivity-and-a-typical-workers-pay-why-it-matters-and-why-its-real/ https://www.epi.org/publication/understanding-the-historic-d...
- andromeduck 6y agoThe assumption being that the rise in productivity was a diffuse one instead of the much more plausible concentrated one between international competition routing uncompetitive sectors and over regulation stymieing the continuance of tradional high paying jobs like construction, general failure to maintain public infrastructure.