Workers haven’t gained as much leverage as a superficial examination might suggest. Advances thus far, such as they are, still leave miles to travel before the American working class recovers all the economic standing it has lost since the 1970s.
Global real wage growth has stagnated compared to productivity in recent decades contributing to widening income inequality. Economic desperation is compounded by the fact that half of the world’s population lacks any form of social protection.
Four-day workweek pilots are emerging across the globe, with some companies now shifting from the pilot phase to implementing the policy permanently. Beyond the U.S., political leaders are voicing support for the concept.
The upward redistribution of income has cost Americans workers $50 trillion over the past several decades. On average, extreme inequality is costing the median income full-time worker about $42,000 a year.
Long before the 2008 financial collapse rocketing, debt and financial wizardry masked the deep underlying fragility of finance-led growth, with wages and productivity stagnating, inequality exploding and ecological systems teetering.
Spread the word