07.12.2021

The rise in labor productivity in the United States only leads to an increase in social inequality

The growth in labor productivity that has been observed in the United States over the past 45 years has had little or no effect on the wages of ordinary workers. These are the conclusions of a study conducted by the Institute for Economic Policy.

According to the findings of experts, in recent decades in the United States there have been certain policy changes that have contributed to an increase in social inequality and slowed down the growth of labor productivity. Nevertheless, even despite this, labor productivity in the country has grown significantly.

However, this growth did not affect the wages of ordinary American workers in any way. And although statistics show an increase in national income, these figures do not reflect the real state of affairs, since the bulk of the income goes to capital owners, without affecting the wages of ordinary workers.

According to experts, despite the importance of growth in labor productivity in the long term , without a return to politics, the relationship between this factor and wage growth, instead of an increase in the welfare of the nation in the future, only the scale of social inequality will continue to grow.

Leave a Reply

Your email address will not be published. Required fields are marked *