>tfw fell for the (((free trade))) meme
Tfw fell for the (((free trade))) meme
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the rich just need more tax cuts senpai
The US doesn't have a free market.
you notice it roughly corresponds to when 1) women started entering the workforce en-masse and 2) computers started becoming a thing
>representing in absolute amounts
Even a 100% tax cut for the first 6 deciles would be less than a 10% cut for the final decile.
>a fucking LEAF
how would raising taxes increase hourly compensation?
and probably the emergence of outsourcing to asia
yeah but productivity back in the 1940s was hard fucking labor, today a retail job counts as productivity
It's called automation and providing the workers with better equipment and tools.
Free trade is great, but that's not what we have. We have crazy trade treaties with all kinds of quotas and regulations and such. It's about as far from free trade as you can get. Not to mention all the domestic market regulations regulations that stifle both growth and flexibility for the average worker.
If we had free markets and free trade, the average person and the country as a whole would be doing spectacularly well.
...
Fake chart, sage
This hurts China more than anything
Globalization wasn't as much if a thing in the 1970s.
The end of Keynesian central bank policies and Reaganomics were.
Its just because they are probably counting productivity as hours worked. People are working more hours, yes. However, they difficulty and quality of the work is waaaay different.
Plus they picked a very short time frame where the numbers work out for them.
Not entirely fake, just purposely misleading
They are using two different indexes for the lines, PCE and CPI. It also forgets to account for job benefits and government provided services.
Also if I recall correctly, and something that the article doesn't mention, the productivity is actually taken from manufacturing sectors indexed by the total gdp output, meaning, an economy with higher gdp but with bigger % in the services sector would show even a bigger gap in this graph. Disingenuous as fuck.
Accounting for productivity and worker retribution, one grows at 2.1% while the other grows at 2%, gap is almost negligible.
The discrepancy between productivity and wages in OP's pic is due to the baby boomers entering the workforce en masse. This includes women going to work for the first time. This excess in the labor supply drove down demand which kept wages stagnant.
Trade policy had nothing to do with it.
What happened in 1973? I bet it lines up perfectly with increased immigration quotas and more female employment
Why do communist keep posting this like its a horrible thing? it shows that through capitalism society has become more productive as a hole for even lower costs.
Why exactly should productivity and compensation be the same? Isn't it good that we are able to produce more the less?
never go full retard
the intellectual property they allow to be stolen is worth trillions alone
and now they have their own versions of google, twitter, uber, etc.... europe for example does not
we just get fucked over... and call it free trade
it's great for the owners of the means of production.
the chart is distorted by the government borrowing money and propping up these low wages
needing the gov to prop up your workers is not capitalism