The U.S. economy has grown over the last half-century, but most of the gains have gone to the top 10%, and inflation-adjusted wages have been stagnant since 1970. Back then, labor got about 60%, and capital 40%, of what the economy produced. Today, those figures are reversed. This trend has gone hand-in-hand with the loss of manufacturing jobs and decline of unions. There’s no reason to believe it will get better.
