For 25 yr after WW2 productivity & worker's pay rose together & created middle class. In 1980 govt & co. policies started increasing CEO/stockholder pay while squeezing every $ possible from workers. If wages still rose w/ productivity we'd have no crisis of income inequality now

Dec 8, 2020 · 12:26 AM UTC

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Replying to @marwilliamson
More and more women joined the work force. Employers don't have to compete as hard to get employees.
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Replying to @marwilliamson @Maryluvs2sing
MMT was popular here once.
Replying to @marwilliamson
You're very down to Earth spiritual person.
GIF
Replying to @marwilliamson
This is partially true but still a little misleading. The average household size has decreased artificially decreasing these numbers and exaggerating the real-income gap. Also, many consumer goods have decreased in price drastically.
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Replying to @marwilliamson
Falling wages are also directly correlated with the decrease in union membership. From 1960 to 1970s we had union membership of ~ 30% of all workers & the lowest inequality. We now have a low of about 7% work force in unions and stagnant wages & massive inequality.
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Replying to @marwilliamson
You're leaving out automation and many other factors let's be fair here. I am not defending rich folk but let's have a nuanced discussion about this
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Replying to @marwilliamson
This is the root cause of the current breakdown in society. Not polarization. Not social media. It’s the relentless squeezing of the middle class by our economic system.
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Replying to @marwilliamson
wtfhappenedin1971.com/?fbcli…
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Replying to @marwilliamson
Minimum wage would be like 40 grand a year now
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