Wednesday, September 9, 2015

The split between productivity and wages

Interesting to see an organ of the neocon plutocracy talk about this. I guess the elites are starting to get concerned over how long they can keep up the con:

WSJ RTE - the split between productivity and wages. Quote:

In case you missed it, there’s a chart making the rounds that has come to represent, for some, all that is wrong with the American economy.

"For some". As in, like I just finished saying, the kleptocratic rentier class does not need economic growth (viz. increase in consumer spending) as a precondition for continued confiscation of wealth.

The top line shows worker productivity growing by 72.2%, or 1.33% per year, between 1973 and 2014. The bottom line shows median workers’ hourly compensation increasing by 9.2%, or 0.2% annually, over that same period. The gap between them more or less symbolizes the big empty space in workers’ wallets.

The area between those two curves represents the entirety of wealth that has been stolen from the pockets of the workers through 35 years of plutocratic theft.

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