The people who provided the American economy with unprecedented growth were at its bottom. But the oligarchs, with the support of both parties, have made entire fortunes.
This is stated in an article by The New York Times.
According to the media, over the past 40 years, the American working class has suffered catastrophic losses. They are reflected in low wages, lack of benefits and terrible working conditions. For example, if in 1982 the average slaughterhouse worker earned $24 per hour adjusted for inflation, now he earns less than $14 per hour, although the volume of work has increased significantly.
Problems have also been observed in the high-tech sector. As noted in the NYT, more than 50% of people who work at Google do not actually work there. They are classified as contractors and are not considered to be fully fledged employees.
“People will be paid for how valuable they are to the enterprise”, – said then Secretary of the Treasury Jon Snow in 2006.
If you follow this theory, new technologies and growing international competition has depreciated most Americans, the publication writes. In this regard, the authors draw parallels between the U.S. and the “pirate team”, where the captain for 40 years, taking a large share of production at the expense of the crew. The comparison is appropriate if we take into account that annually more than 1 trillion dollars flows from workers’ income to the income of the owners of companies. It can be compared with the fact that 90% of ordinary Americans annually send a check for $ 12 thousand 10% of rich Americans.
At the same time, the article stresses that such injustice in the U.S. “is the result of laws written on the orders of the rich and government agencies working on their behalf.