Jack Saturday

Monday, September 16, 2013

Anti Wage-Slavery Pro-Freedom Quotations Of The Week 1035-1037

The top 10 percent of earners took more than half of the country’s total income in 2012, the highest level recorded since the government began collecting the relevant data a century ago, according to an updated study by the prominent economists Emmanuel Saez and Thomas Piketty.

In fact, as many inequality watchers have noticed, profits as a share of income are at or near record highs while the compensation share is around a 50-year low.
– According to Mr. [Robert] Samuelson, over the last decade, there’s been a shift amounting to $750 billion from labor to capital.

 it's worth remembering that the falling share of labor income has been happening all over the world, in countries with a very wide range of different policies and economic institutions.
The share of income going to labor as a whole is falling, and also a greater share of labor income is going to those at the highest levels of income.
Why Labor’s Share of Income Is Falling
New York Times
Friday, September 13, 2013

[emphasis JS]

 Just as parents who feared their child was going to fail may be relieved by a report card full of “D’s,” what seems to matter in Europe is that things are getting worse more slowly. Call it a second derivative recovery. This is the eighth consecutive quarterly decline in employment, but it is the smallest of the eight.
Been Down So Long, It Looks Like Up to Me
New York Times

[emphasis JS]

 "The OECD has observed, for example, that over the period from 1990 to 2009 the share of labour compensation in national income declined in 26 out of 30 developed economies for which data were available, and calculated that the median labour share of national income across these countries fell considerably from 66.1 per cent to 61.7 per cent ... Looking beyond the advanced economies, the ILO World of Work Report 2011 found that the decline in the labour income share was even more pronounced in many emerging and developing countries, with considerable declines in Asia and North Africa and more stable but still declining wage shares in Latin America."
Global Wage Report 2012/13

[emphasis JS]



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