14 February 2009

Productivity and compensation

I came across an interesting graphic that provides a great picture of our economy since the "Republican revolution" and introduction of Reagan's trickle-down economics:

Daily Kos has an excellent post on recent trends. An excerpt:

Basically, the basic bargain was roughly this--if you worked hard and became more productive, you would see that sweat of the brow in your wages. And from the post-war era until the 1970s, that deal basically held--as you can see from the lines that are basically close together until the 1970s. Then, the lines diverge--dramatically. You can see it yourself. If the lines had continued to track closely together as they did prior to the 1970s, the MINIMUM WAGE would be more than $19 an hour.


sanshinseon said...

Yup. Pretty easy to figure out -- the gains from increased productivity were funneled into the Owner's pockets, not to the workers. A deliberate and successful strategy.

Check out this vid-interview of Gerald Celente, a trend-forecaster who's been right before. He believes that 2009 brings us "the worst economic collapse ever", the "Greatest Depression". Revolt, mass violence and spiking mexico-style crime in the USA. Zero confidence in Obama's bankster-friendly team...

libhom said...

It's good that more and more people are cluing into how badly we have been screwed over by the rightist policies of the past 28 years.