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The Importance of Responsibility in American Capitalism
From 1948 to 1979, worker pay in the United States grew at the same or close to the same rate as worker productivity. But since 1979, this has changed dramatically. From 1979 to 2020, net productivity rose 61.8% while the hourly pay of typical workers grew at about 17.5%. So it went from they grew at kind of the same rate during this quote golden age of capitalism to worker pay growing less than a third over four decades. What does that mean? I mean, that means workers are getting shafted, right? Like, yeah, there's no other way to look at that.