The Wageless, Profitable Recovery
By STEVEN GREENHOUSE
June 30, 2011, 10:44 am
In their newly released study, the Northeastern economists found that since the recovery began in June 2009 following a deep 18-month recession, “corporate profits captured 88 percent of the growth in real national income while aggregate wages and salaries accounted for only slightly more than 1 percent” of that growth.
The study, “The ‘Jobless and Wageless Recovery’ From the Great Recession of 2007-2009,” said it was “unprecedented” for American workers to receive such a tiny share of national income growth during a recovery.
According to the study, between the second quarter of 2009, when the recovery began, and the fourth quarter of 2010, national income rose by $528 billion, with $464 billion of that growth going to pretax corporate profits, while just $7 billion went to aggregate wages and salaries, after accounting for inflation.
Friday, July 01, 2011
THIS IS MARXIST OPPRESSION?
Freaks like Mark Levin claim that Pres. Obama's hatred of corporations and Capitalism is doing terrible damage to companies. The truth?...not so much.
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1 comment:
Substitute "affintity" for "hate" and Levin would have come closer to truth.
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