The Wage Share of the National Income

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Wage share of national income is a proxy for the balance of class forces in a capitalist economy. The ratio of total value to the value that workers are receiving acts as an index of how much they're able to get out of the system. Over the long term, what you see is a pretty sharp decline in the labor share of income. This correlates closely with what we know to be te the sort of institutional trajectory of workers organizations in this country. And so if you look at the wager over time, you can sort of get a sense, i think, of how strong labor is.

Inflation is once again at the center of political debate. Dan interviews Tim Barker to put monetary policy in its historical and class war context. Reading: Preferred Shares by Tim Barker phenomenalworld.org/analysis/wage-share email digradiopod@gmail.com for PDFs of the following two articles: The Vietnam War and the Political Economy of Full Employment by Dean Baker, Robert Pollin and Elizabeth Zahrt Class Conflict and the "Natural Rate of Unemployment" by Robert Pollin Support The Dig at Patreon.com/TheDig...and join The Dig's brand new Discord!