Working Hard, Hardly Working

In the last forty-five years, American economic productivity has gone through the roof while hourly wages have stagnated. Higher productivity means more wealth, of course, but workers aren’t seeing a proportional cut of that wealth — executives and shareholders are keeping it for themselves. The fact that the US labor force is almost 75 percent more productive than in 1973 but is paid practically the same per hour is central to the story of surging economic inequality.

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