Thursday, April 28, 2005

Growing Plutocracy: Now in Graph Form!

posted by Bill at 12:41 PM

8 Comments:

Anonymous Anonymous said...

Let's see... Profits of corporations fell from 1997 to 2001. Over the same period compensation of workers went up. Looks like a recipe for recession to me.

4:39 PM  
Blogger Bill said...

Actually, that's not accurate. The graph does not reflect declining profits for corporations; indeed, in the late 1990s, corporate profits increased. The issue is this: What good is an efficient or growing economy if most Americans don't benefit? When companies pay better, and share profits, it puts money into the pockets of people who both need it and will spend it. And it's not hard to see how that helps the overall economy, too. Just fattening the compensation of CEOs -- some of whom make as much as 1,000 times the average wage in their company -- is bad economics, bad business, and bad for America.

4:55 PM  
Anonymous Anonymous said...

Well now, that's another issue... paying some wizzened old bozo $ 32 million dollars for rolling around in his plush office all day like an overinflated beachball. Don't get me started on that.

10:29 PM  
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9:07 PM  

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