Jun
13
Chart of the Day – The Lonesome Death of the American Worker
The chart above tells you just about everything you need to know about where we’ve been and where we’re going – as far as the U.S. economy is concerned, anyway.
The red line depicts American workers’ share of the national income pie, dating all the way back to 1947. As the boom and bust (or growth and retraction, if you must) nature of our capitalist economy worked its rhythmic gyrations over the years, Labor’s piece of the American Pie grew larger in good times, smaller in bad ones – but for the most part tended to recover to a baseline high of around 109 once the economy was good and cranking.