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<blockquote data-quote="804brown" data-source="post: 929153" data-attributes="member: 29553"><p><a href="http://www.opednews.com/articles/Why-Occupy--Here-s-why-by-Harold-Hellickson-120106-105.html" target="_blank">OpEdNews - Article: Why Occupy? Here's why.</a></p><p></p><p>The history of labor vs. capital in the United States, of workers vs. owners, is well documented. The rich have almost always grown richer. But the worker gained in income as well. Professor Richard D. Wolff, Capitalism Hits the Fan, documents that workers gained in income each decade from the 1800s through 1970s. When adjusted for inflation, wages peaked in 1973. Since 1973, essentially none of the gains in worker productivity have been shared with the workers; business has retained literally all of it. Since, according to the Economic Policy Institute, through 2007 the richest 10 percent of Americans received 98 percent of all growth in income leaving 2 percent for the remaining 90 percent of us. From 1988 through 2008, income for the bottom 90 percent of us actually declined. The portion gained by the top 1 percent in general and the top 0.1 percent in particular is obscene.</p><p>The improved standards of living gained by labor unions, through higher wages and benefits for its members through 1973, were believed to be a burdensome cost to profits. Chicago's School of Economics' Milton Friedman had declared profits to be the only legitimate purpose of business. Something dramatic, something of epoch proportions, must have occurred in the 1970's that supported Friedman's contention. What could have happened?</p></blockquote><p></p>
[QUOTE="804brown, post: 929153, member: 29553"] [url=http://www.opednews.com/articles/Why-Occupy--Here-s-why-by-Harold-Hellickson-120106-105.html]OpEdNews - Article: Why Occupy? Here's why.[/url] The history of labor vs. capital in the United States, of workers vs. owners, is well documented. The rich have almost always grown richer. But the worker gained in income as well. Professor Richard D. Wolff, Capitalism Hits the Fan, documents that workers gained in income each decade from the 1800s through 1970s. When adjusted for inflation, wages peaked in 1973. Since 1973, essentially none of the gains in worker productivity have been shared with the workers; business has retained literally all of it. Since, according to the Economic Policy Institute, through 2007 the richest 10 percent of Americans received 98 percent of all growth in income leaving 2 percent for the remaining 90 percent of us. From 1988 through 2008, income for the bottom 90 percent of us actually declined. The portion gained by the top 1 percent in general and the top 0.1 percent in particular is obscene. The improved standards of living gained by labor unions, through higher wages and benefits for its members through 1973, were believed to be a burdensome cost to profits. Chicago's School of Economics' Milton Friedman had declared profits to be the only legitimate purpose of business. Something dramatic, something of epoch proportions, must have occurred in the 1970's that supported Friedman's contention. What could have happened? [/QUOTE]
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