Capitalism, Productivity, and Lack of Wage Growth: Reality in the US Today
2014-09-01
From a New York Times editorial posted August 31, 2014:
“In 2013, after-tax corporate profits as a share of the economy tied with their highest level on record (in 1965), while labor compensation as a share of the economy hit its lowest point since 1948. Wage growth since 1979 has not kept pace with productivity growth, resulting in falling or flat wages for most workers and big gains for corporate coffers, shareholders, executives and others at the top of the income ladder.”
These facts are an indictment of capitalism as it is practiced in the United States today.
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Conrad Theodore Seitz 