A Fair Share of Productivity Gains
I came across this chart used by Robert Reich, and I am posting it because it shows so clearly that the average American used to get a fair share of productivity gains but no longer does.
From 1947 to 1979, the compensation of non-supervisory workers increased by almost as much as productivity.
From 1980 to the present, compensation stagnated as productivity continued to grow - partly because of deliberate economic policies that were adopted by the Reagan administration and that remain in place, such as a dramatically less progressive income tax.
The chart is from Robert Reich, "The Limping Middle Class," New York Times, Sept. 3, 2011.
From 1947 to 1979, the compensation of non-supervisory workers increased by almost as much as productivity.
From 1980 to the present, compensation stagnated as productivity continued to grow - partly because of deliberate economic policies that were adopted by the Reagan administration and that remain in place, such as a dramatically less progressive income tax.
The chart is from Robert Reich, "The Limping Middle Class," New York Times, Sept. 3, 2011.
posted by C. Siegel at 1:16 PM
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