Shift_from_Capital_to_Labor
Labor’s share of income is declining across countries; in the US, it fell from >63% in 2000 to <57% today. COVID accelerated this dislocation between labor and capital. The further the disconnect between labor and capital, the more resentment we see between them. GameStop was the greatest invasion of labor into capital since the Peasants’ Revolt – ... See more
John Luttig • Finance as culture
This is called the labor theory of value.* The difference between the value added by labor and the wage paid to the worker is a surplus value, which transfers to the capitalist owner in the form of profit.
Matthew Wizinsky • Design after Capitalism: Transforming Design Today for an Equitable Tomorrow
The institute observes that the average American worker grew 72 percent more productive between 1973 and 2014, but the median worker’s pay rose only about 9 percent in this time. In short, America doesn’t have a problem of lagging productivity so much as a problem of the gains from productivity being captured by elites. The increasingly extractive
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