By Terry Evans
April 12, 2021
Economic Policy InstituteGap between the productivity squeezed out of workers and their pay has increased dramatically since 1979, as speedup led to a nearly 70% increase in workers’ productivity, while wages rose only 11.6%. Bosses are pushing even harder under crisis conditions unfolding today.
Millions of workers have been forced into long-term joblessness by the crisis of the capitalist rulers and their profit-driven mismanagement of the coronavirus pandemic. At the same time, capitalist investors are plowing trillions of dollars into a frenzy of speculation in stocks, bonds, SPACs, online scams and other financial instruments increasingly divorced from the real economy of production and trade.