Gig economy companies spent more than $200M to bankroll Proposition 22

Re:Gig economy companies spent more than $200M to bankroll P... by CryptoPunk on Monday November 16, 2020 @05:50AM (#25110283)

Wage growth has slowed, but hasn't ceased altogether. Statistics showing wages not growing or diverging from productivity are due to a misapplication of the inflation index:

https://www.brookings.edu/opinions/sources-of-real-wage-stag...

Anyway, the US has embarked on a massive social democracy course since 1965, so a slowdown in the rate of development is what you would expect.

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Re:Gig economy companies spent more than $200M to bankroll P... by CryptoPunk on Monday November 16, 2020 @07:06AM (#25110685)

This is a well-established fact in Economics.

https://fivethirtyeight.com/features/what-is-driving-growth-...

Annual spending growth (inflation adjusted) on various components of social welfare spending (1972 - 2011):

>Pensions and retirement: 4.4%

>Healthcare: 5.7%

>Welfare: 4.1%

Annual economic growth over the time frame:

>2.7%

This is annual growth, over a course of 40 years, resulting a massive increase in social welfare spending as a percentage of GDP.

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