Saturday, 3 June 2023

What about the Workers?

Over the last few decades there has been steady and continual divergence between productivity growth and pay rises,    

Analysis of historical data shows that productivity and compensation for ordinary workers grew in near lockstep from the end of World War II through the 1970s. Since then, however, productivity has grown nearly four times faster than pay for ordinary workers, the difference going to shareholders and the most highly paid workers (think executives).

This has happened through various governments, irrespective of their left or right leanings.


This is a recipe for either mass poverty  or revolution - it is reminiscent of the wealth gap in the middle ages.


Productivity gains have to be shared more equitably.

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