Does anyone really need any additional evidence of the lopsided nature of the current recovery?
Employers certainly don’t. They’re managing to hire additional workers, thus lowering the unemployment rate. But they don’t have to pay the workers they hire much more than they were getting before, with wages barely staying ahead of the rate of inflation. As a result, corporate profits continue to grow.
Clearly, what we’re seeing remains a one-sided recovery: employers are getting ahead—and their workers are still being left behind....Capital (ownership) share increasing over labor (workers) share.
Occasional Links & Commentary
Their beautiful recovery
David F. Ruccio | Professor of Economics, University of Notre Dame
See also
Graph.
Real-World Economics Review Blog
Ratio between CEOs and average workers in world by country
2 comments:
That's what "recovery" is because the poor don't have any gains to lose.
The people at the bottom are the least effected by economic downturns. Maybe a little more competition for dumpster pizza.
Half a loaf
and one's dear head
beats ALL the loaf
and sooner dead.
Post a Comment