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"It turns out that the manufacturers actually had quite a bit of profit margin, which this strike forced them to share with the workers. That's an old idea in economics, too, but not one that's much currently practiced — that there's actually a gap which is available for either profits or wages. And there's a sort of class struggle over who gets that," Deaton said.

Duh.

I'm old enough to remember when labor's share of national income peaked in the late 60s. This was a much better country for working people to live in then. I helped my father with his taxes. With no college degree, adjusted for inflation, he was pulling in between $100-$150K per year depending on overtime.

Forced deindustrialization through eco-kook policies, mass immigration, financialization of the economy, and "free trade" have pushed Americans' incomes into the toilet.

And with those changes it also looks like Americans are on the brink of losing democratic control of the government.

With the end of the Cold War we thought we finally made the world safe for democracy. But it looks more like we made it safe for oligarchy.

Post of the day, perhaps the year.

You get it.

So many people on this site don’t have a clue.

If someone is making $10/hr they they that is $5 too many.

Forced deindustrialization through eco-kook policies, mass immigration, financialization of the economy, and "free trade" have pushed Americans' incomes into the toilet.

It is reported that between China joining the World Trade Organization in around 2001, and the late 2010's over 50,000 US factories were moved to China. Think Mitt Romney and Bain Capital. The effects on American workers and families can be easily contemplated. This might even interfere with the ability of the USA to project power like in supplying Ukraine, but the ruination of America's middle and working classes is more important than anything else.