"Since the end of 2008 business-sector productivity has grown at an impressive annualised rate of 4.2% while hourly compensation has crept ahead by just 2.1%. Unit labour costs have fallen at an annualised 2% rate, the steepest cumulative decline since the 1950s. Profits owe their V-shape in great part to employment’s L-shape."
You know that fable from the right wing that tells us that if we would only free the rich from this terrible tax burden, then they, the rich, would create jobs for us all and we would all live happily ever after. Wrong. They, the rich, never have done that and they never will. Why would you believe otherwise? This is just more of Reagan's 'Trickle down economics'. It didn't work then and it won't work now. History and facts tell us the truth. 
The Economist, which you quote in this post, also had an article recently about psychopaths, describing the amorality involved in their psychiatric definition. It also commented that quite a few who sit on corporate boards could be appropriately designed psychopaths. This was not an observation I expected from that forum -- if they see it, why don't the rest of us?
ReplyDeleteGood question. Now if only there were an answer...
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