"Are American workers becoming less productive? On the contrary, a Wall Street Journal survey of the Standard & Poor’s
500, the nation’s largest publicly traded companies, found that their revenue
per worker increased from $378,000 in 2007 to $420,000 in 2010. The problem is
that workers get none of that increase. As economists Ian Dew-Becker and Robert Gordon have shown,
all productivity gains in recent decades have gone to the wealthiest 10 percent
of Americans, in sharp contrast to the three decades following World War II,
when Americans at all income levels shared in the productivity increases.
"The primary plight of U.S. workers isn’t their lack of skills. It’s their lack
of power. With the collapse of unions, which represented a third of the
private-sector workforce in the mid-20th century but just 7 percent today,
workers simply have no capacity to bargain for their share of the revenue they
produce."
On Labor Day, Harold Meyerson in The Washington Post discusses the impact of the decline of unions in the United States.
Monday, September 03, 2012
"The War that Business and Republicans Are Waging on Labor"
Labels:
economic history,
economics,
holidays,
labor,
twenty-first century
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