MB Civic

from Derek Thompson ..

Here are two things that are true about the economy today. (1) The Dow Jones industrial average is poised to set a new record as corporate profits stretch to all-time highs. (2) There are still fewer working Americans today than there were before the start of the Great Recession. The fact that these two things can be true at the same time might outrage you. But it shouldn’t surprise you. In the last 30 years, there has been a great divergence between growth and workers’ incomes, as the New York Times reminds us today. Corporate profits have soared, in the last decade especially, particularly because [] Globalization has pushed down the cost of labor available to multinational corporations

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