If you think about it, this chart completely refutes trickledown economics. No it doesn't
In a modern, free, division of labor society, with a just government, the gains of the rich do not cause a loss to the non-rich and lead to gains for all.This is what the chart shows.
From 1967 to about 2001, while the rich were gaining, everyone was gaining. After 2001, while the rich were declining, everyone was declining. The greater gain of the rich is a result of their greater contribution to production relative to the non-rich, and does not result from stealing from the non-rich or exploiting them.
10 posted on
12/31/2012 9:10:59 AM PST by
mjp
((pro-{God, reality, reason, egoism, individualism, natural rights, limited government, capitalism}))
In a modern, free, division of labor society,there's the rub because right now the labor market is anything but "free" in any meaningful sense. all the power is on the side of the labor consumer so they are able to set whatever wage rate they want. while the labor provider is pushed by necessity, through having to have that job just to provide the basic food, shelter, and medical expenses to keep him and his family alive, to take the first bad offer that comes his way.
provide a society where people don't have to take the first awful job that comes along just to stay alive and then you might have a freer labor market. right now it's just a con game.
The greater gain of the rich is a result of their greater contribution to production relative to the non-rich, and does not result from stealing from the non-rich or exploiting them.
that's ridiculous. you can't make a cogent argument that the average executive is hundreds of times more productive than the people actually making the widgets. as worker productivity has risen their share of their productivity has gotten smaller and smaller so yes, they have been exploited and have had a portion of their labor stolen.