this post was submitted on 15 Sep 2023
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"strong economy" = corporations posted record profits
The missing part of the discussion is always “better for who?”
The benefits of economic activity don’t automatically go to most people. They’re not even the likely ones to benefit from it.
But it’s pretty easy for media and gov propaganda to frame it in generic terms like “the economy is good, look at these hand picked stats that say so!”
"strong economy" = workers getting paid an even smaller share of the value they create
My definition of a strong economy is one where people can afford things like food and rent with money still in the bank at the end of the month.
I don't give a fuck if a CEO could afford an extra Bentley this week, I want people to not starve.
YUP! Too bad once Reagan got in office GDP began to completely separate from wages:
Source: https://aneconomicsense.org/2015/02/13/why-wages-have-stagnated-while-gdp-has-grown-the-proximate-factors/
Ah, good. You can see exactly when Reagan fucked everything for everyone but the top earners.