Re:America's 1% Has Taken $50T From the Bottom 90%
by leetcrew on Thursday February 11, 2021 @04:10PM
(#26107239)
gdp per capita is not a good proxy for wages.
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Re:America's 1% Has Taken $50T From the Bottom 90%
by dcolkitt on Thursday February 11, 2021 @05:14PM
(#26108115)
Labor share of GDP went from 64% in 1950 to 58% today. That means wages grew slightly slower than GDP per capita, that’s certainly not enough to mean wages grew sub-exponentially.
For wages to grow linearly, labor share of GDP would have to fall exponentially towards zero.
https://www.bls.gov/opub/mlr/2017/article/estimating-the-us-...