HomeLatest ThreadsGreatest ThreadsForums & GroupsMy SubscriptionsMy Posts
DU Home » Latest Threads » Forums & Groups » Topics » Democrats » Elizabeth Warren (Group) » Elizabeth Warren: Why isn... » Reply #64

Response to Bay Boy (Reply #56)

Sun Mar 17, 2013, 05:18 PM

64. $22 adjusts for productivity gains

You may already know this, but just in case... as companies learn to produce more stuff with the same number of workers, the company makes more money. As time goes on, that's what our economy does - we make more stuff per worker; it's called productivity growth.

Until the 1970s, that new money effectively created by productivity growth went to the 99% and the 1%. Since the 1970s, it's all gone to the 1%. Nothing for the 99%. If the productivity growth had continued to go equally to people of all incomes at the same percentage of their 1960 incomes, then a job paying minimum wage in 1960 would now pay $22 an hour.

Sorry if that's convoluted!

Reply to this post

Back to OP Alert abuse Link to post in-thread

Always highlight: 10 newest replies | Replies posted after I mark a forum
Replies to this discussion thread
Arrow 86 replies Author Time Post
MannyGoldstein Mar 2013 OP
Tuesday Afternoon Mar 2013 #1
ErikJ Mar 2013 #69
tiny elvis Mar 2013 #70
ErikJ Mar 2013 #71
valerief Mar 2013 #2
ProfessionalLeftist Mar 2013 #3
Plucketeer Mar 2013 #77
rhett o rick Mar 2013 #4
Live and Learn Mar 2013 #5
Cleita Mar 2013 #6
MannyGoldstein Mar 2013 #7
Cleita Mar 2013 #8
awoke_in_2003 Mar 2013 #45
Coyotl Mar 2013 #9
antiquie Mar 2013 #11
Coyotl Mar 2013 #13
antiquie Mar 2013 #16
Cleita Mar 2013 #14
antiquie Mar 2013 #18
MannyGoldstein Mar 2013 #20
antiquie Mar 2013 #26
snappyturtle Mar 2013 #30
antiquie Mar 2013 #31
Bay Boy Mar 2013 #54
cstanleytech Mar 2013 #25
SunSeeker Mar 2013 #44
Mnpaul Mar 2013 #74
Spitfire of ATJ Mar 2013 #10
Cleita Mar 2013 #12
Spitfire of ATJ Mar 2013 #17
alc Mar 2013 #15
Cleita Mar 2013 #19
NYC_SKP Mar 2013 #22
Spitfire of ATJ Mar 2013 #23
October Mar 2013 #29
SheilaT Mar 2013 #39
October Mar 2013 #55
SheilaT Mar 2013 #62
Le Taz Hot Mar 2013 #85
October Mar 2013 #86
Bay Boy Mar 2013 #53
October Mar 2013 #57
Bay Boy Mar 2013 #59
Sherman A1 Mar 2013 #48
Lordquinton Mar 2013 #60
Sherman A1 Mar 2013 #65
grahamhgreen Mar 2013 #82
BlancheSplanchnik Mar 2013 #21
JDPriestly Mar 2013 #24
brewens Mar 2013 #27
Bay Boy Mar 2013 #58
Bay Boy Mar 2013 #61
antiquie Mar 2013 #28
smallcat88 Mar 2013 #32
Smarmie Doofus Mar 2013 #37
SunSeeker Mar 2013 #72
hedgehog Mar 2013 #33
pangaia Mar 2013 #34
Bozvotros Mar 2013 #35
Smarmie Doofus Mar 2013 #36
MannyGoldstein Mar 2013 #38
soldierant Mar 2013 #68
SheilaT Mar 2013 #40
cantbeserious Mar 2013 #41
Major Nikon Mar 2013 #42
WillyT Mar 2013 #43
SunSeeker Mar 2013 #46
colsohlibgal Mar 2013 #47
AzDar Mar 2013 #49
abelenkpe Mar 2013 #50
Rosa Luxemburg Mar 2013 #51
Bay Boy Mar 2013 #52
Bay Boy Mar 2013 #56
LineLineReply $22 adjusts for productivity gains
MannyGoldstein Mar 2013 #64
October Mar 2013 #66
MannyGoldstein Mar 2013 #75
Skittles Mar 2013 #63
TrollBuster9090 Mar 2013 #67
hay rick Mar 2013 #73
aaaaaa5a Mar 2013 #76
MannyGoldstein Mar 2013 #79
Beartracks Mar 2013 #78
Autumn Mar 2013 #80
midnight Mar 2013 #81
Laelth Mar 2013 #83
Flatulo Mar 2013 #84
Please login to view edit histories.