March 4, 2013 - The Atlantic
In the last 30 years, there has been a great divergence between growth and workers' incomes.
Here are two things that are true about the economy today.
(1) The Dow Jones industrial average is poised to set a new record as corporate profits stretch to all-time highs.
(2) There are still fewer working Americans today than there were before the start of the Great Recession.
Corporate profits have soared, in the last decade especially, particularly because of three things: Globalization has pushed down the cost of labor available to multinational corporations; technology has allowed companies to make more with fewer workers, in general; and Big Finance has gobbled up the economy, as the banks' share of total corporate profits has tripled to about one-third since the middle of the last century, according to Evan Soltas. Here's the short story of corporate profits, GDP, and workers' income since the Great Recession.... http://www.theatlantic.com/business/archive/2013/03/corporate-profits-are-eating-the-economy/273687/
March 3, 2013 - New York Times
CORPORATE PROFITS SOAR AS WORKER INCOME LIMPS
...the split between American workers and the companies that employ them is widening... With millions still out of work, companies face little pressure to raise salaries, while productivity gains allow them to increase sales without adding workers. http://www.nytimes.com/2013/03/04/business/economy/corporate-profits-soar-as-worker-income-limps.html?hp&_r=1&;