The average person (you and me) are much more productive, but have actually lost our share of wages relative to our productivity compared to our parents and grandparents. That extra production we're doing is almost entirely captured by the top 1% of the population, it's literally been taken away from us.
And contrary to our "billionares create jobs" friends, what billionaires do by and large is hoard wealth and power of a scale most people can't even begin to grasp.
[–] senordevnyc 1 day ago
That said, you're right that the gains over the past fifty years have been disproportionately captured by the people at the very top of the distribution, and we should address that with policy changes, including taxation. But we can do so without tossing the facts aside.
[–] micromacrofoot 16 hours ago
So what measure of "prosperity" are you using? income alone can't be it.
[–] hobo123 1 day ago