Elizabeth warren wrote a good book The Meowtains Are Calling And I Must Go Shirt on this, unfortunately, people don’t want to talk about it because we can’t have rational discussions about anything anymore. Might be better to separate and compare by net income. The uber-wealthy are not suffering the pillaging by big business. Over a mil or two per annum is probably not suffering, and the rest of us is where their money is coming from: just a hunch. When you double the labor force, wages should go down not up assuming everything else is equal. So because of productivity going up, they’ve managed to stay about the same.
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Except all of the increased revenue from all that The Meowtains Are Calling And I Must Go Shirt productivity increased the salaries of c-suites and shareholders. I remember reading somewhere that the bonuses for the Starbucks execs one year amounted to enough money to pay all of its ground-level employees 15 an hour. But they didn’t do that, they gave bonuses and stock buybacks, and left all the employees at a dollar or 2 above min wage. Well, you can’t have your bottom employees feeling like they’re worth something. They could leverage their new salary against a better position somewhere else, making similar pay for easier work. Then who would the executives exploit.
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