Since the end of 2019, just before the pandemic, workers have basically just kept up. After inflation, average hourly wages are up 3%. For workers in aggregate, total compensation is up 8%. Meanwhile, profits have climbed 43%.
My annual pay has increases since 2019 but not enough to keep up with inflation. The extra money from the government during COVID did a good job hiding this for a bit but once it stopped the problem became very apparent.
You’re not still living high on the hog with your stimulus funds?
/s
I imagine most people reading the WSJ look at that and go “Good, the system is working as intended. Squeeze em til there’s nothing but pulp, then keep squeezing”
Imagine thinking that’s “marxist” and not just objective truth.
Marxism is the objective truth. It’s not some random cult, it’s a well-established and studied economic theory that predicted many developments of capitalism when it was still in its early stages.
It might actually be Georgist, cause if you remove housing (i.e. land) from the equation, the statement is no longer true. At least in a 2014 study by Rognlie.
Truth seems to have an objectively marxist tint to it as though Marx developed a functional observational theory of capital collapse in human societies.
Guillotine time?
Feed them, they are hungry
I love my billionaires cooked well done and slathered in ketchup. They’re a gamy meat so might as well cook the suck out of them.
Seems that way
Bu bu bu I thought it was all these foreigners takin our jerbs
Fun fact, when you remove real estate from that calculations, the claim is no longer true (Rognlie, 2014). Land is a severely underrated cause of this. Edit: citation: https://doi.org/10.1353/eca.2016.0002
Can you cite the DOI of your study?
look at the footnotes for the graphs:
Corporate profits*
Labor compensation†
that dagger is quite ambiguous.They run this headline but to them they’re just remarking on the weather.
“Oh, seems like profits are going to capital today. Oh well, that’s the invisible hand of the market I guess. Nothing sinister here.”
To be fair, that’s not their place to get outraged. They should report all facts like the weather and leave the opinion up to their readers.
lol, the WSJ is owned by Murdoch. it’s just fox news for rich people who think they’re smarter than they are.
Except they’re not highlighting that as something to correct. They are celebrating that outcome.
