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Once again nonsense, productivity has been increasing in America over the last 20 years but real wages have not. As always, don’t confuse textbook theory with
by deepnotderp 2y ago
Once again nonsense, productivity has been increasing in America over the last 20 years but real wages have not.
As always, don’t confuse textbook theory with real life!
- WalterBright 2y agoComparing with real wages is erroneous. One has to look at total employee compensation, instead. This includes: 1. worker pay 2. so-called employer's social security contribution 3. stock purchase plans 4. 401k company benefits 5. employer provided health care 6. retirement plan contributions 7. paid time off 8. other employee benefits This adds usually around 40-60% of wages. Another factor is the increasing share of the productivity is extracted through government taxation and deficit spending. Big government is expensive.
- piva00 2y agoNow look at corporate profitability and CEO pay vs total paid per employee over the last 30 years.