Friday, November 4, 2011

Growing Economies, Stagnant Wages -

Growing Economies, Stagnant Wages - "The United States was on the lower end. From 2000 to 2007, median pay increased at a quarter of the pace of output per capita. In other words, the typical American worker did not share much in the country’s growing wealth even when the economy was good."

Capital has become concentrated and internationally mobile. It is beggaring labor everywhere. The new ruling class is the international corporate elite, who have no national loyalties to speak of.

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