Wages are kind of stagnant in the face of growing productivity, since about the mid-70’s decline of them. At least that’s what BLS says:
The steadily increasing line is us working smarter, longer and/or harder = efficiency. The flat line is our real wages since the mid-70’s. The area in between is the wage theft = the amount the worker added value but was not fairly reimbursed.
What’s Wrong with This?
This excellent analysis by The Green Party’s Dr. Jack Rasmus explains that data reported since 2002, and collected over the past 30 years shows that: “overall share of incomes from Capital in general is rising at the expense of workers’ earned incomes, i.e. wages and salary incomes—and especially the sub-category of hourly wages and weekly earnings for the roughly 110 million production and non-supervisory workers in the U.S.”
While the US tax system facilitates this, the Greens identify the primary causes as: “the manipulation of global financial assets and speculative financial trading,” and: “transfer of income from workers through the conduit of their corporations” (the ‘flat line’ of earnings for increased productivity the BLS data documents). All this is only possible by “by creating new forms of money and credit, and recycling money capital to create still more money capital where nothing is actually being produced except for money capital.” We saw this best played out in the derivatives phenomenon, which nearly wiped out the entire global economy, while producing absolutely no new value, in a scheme so complex that charges of wrongdoing have yet to have been leveled in the US, a half a decade later.
In other words, The Political Class are not working longer, harder and smarter. That’s almost all of the rest of us…these folks: “working families—recipients of what is called ‘earned incomes’ from wages and salaries—have barely maintained their incomes and standard of living during the best of times” The all but given “reduction in social security monthly benefits and/or a rise in co-pays by retirees” will further erode this standard of living in a future cost. Neither the scope nor duration of this decrease has yet been addressed.
If anyone reading this thinks this is possible without controlling the policy and legislation of first-world industrial governments, they must explain it to me. If anyone thinks control of governments is possible without infusions of cash bribery (masked as something legal, like, say maybe campaign contributions), explain that too. Because I can’t see it.
No. No, actually I see it clear as day.
Even mainstream media is starting to notice, so we know it is getting bad:
“…even with these caveats, a growing economy hasn’t really translated into growing incomes for median households the last 15 years.”
We must correct for the taking by The Political Class of a proportion higher than the value it has added, at the expense of those (almost everyone) who has actually created it.
In English: making these graphs parallel. That indicates just distribution of wealth to creation of that wealth.
Those who produce nothing should get nothing, those who produce a little should get that, those who produce much should get much. This graph proves that is not happening, and unless it is parallel, it can’t be happening.