After rising sharply between 1984 and 2000, US productivity gains have weakened since, averaging less than 1% a year since 2013–the lowest since 1980-84 (source: Hoisington Management)
After 20 years of industry consolidation we have enabled a self-defeating economic system. History assures, that neither coporate profits nor labour get it all their way indefinitely. We won’t achieve sustainable, broad-based improvement until we have policies and prosecutions that help to engender more competition and investment in operations rather than short-term financial engineering. The status quo has run its course. A brighter future depends on disruption, wider income sharing and fresh starts. This clip highlights some key stats on point.
In the last few decades, a growing number of industries have become dominated by a handful of firms. Wages, growth, and inflation have remained stubbornly low, while inequality has risen sharply. This is not a coincidence. Here is a direct video link.
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