This cartoon was published in 2006. A decade-plus later, the number is has barely crawled back up to where it was then. Employees of companies are paid only 43% of the Gross Domestic Product. In 1953 and 1970, at peak, the number was 52%.
The numbers on the corporate profits are similar; they are a slightly lower share of the GDP than in 2006, but are still at historic highs.
Do remember this when “Tax Reform” is sold as “helping the workers.” Based on current numbers, the majority of any savings will go straight into corporate profits, paid out to shareholders.
Originally shared by +Laura Natale:
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…and we moved Labor Day from May 1st because of the dirty pinko commies.
+Stan Pedzick We even put a magick spell on all of our monies so that the dirty pinko commies couldn't touch it!
+Stan Pedzick Not so much moved as chose a different date from the Haymarket incident (which seems to have been the basis for May 1 in many, but not all, countries).
But, yeah, commies and anarchists and other late 19th Century bogiemen.
Productivity is related to the extent of tools provided to workers. Perhaps more automation would reflect as productivity, but actually reduce employment itself. Perhaps different metrics are required.
+Sowmyan Tirumurti The question then becomes, is the priority to produce a matter of generating more wealth for the companies and investors, or for society as a whole?