Those in power make economic decisions, whether that’s tax breaks for the rich, trade legislation that kills jobs, or some other policy.
We have to understand that politics and the economy are not separate things. The economy doesn’t just happen. Government and those that can successfully influence government make the rules for the economy. Those rules once served our interests, but not any more:
1930s Workers were rising up, staging general strikes, and winning battles. We won Social
Security, unemployment benefits and overtime pay. The conversation was about how to make the economy work for workers, not just how we can work for the economy.
1940s - Late 1960s
Organized labor was powerful enough to negotiate the first health care benefits and pension plans. People generally thought that the market was imperfect and could use some government intervention to make it work, including things like a minimum wage, rules on overtime pay, and the Occupational Safety and Health Act.
Early 1970s - Now
The dominant view in Washington is that the “market” should be left alone, with free
trade and minimal regulation on corporations. We are seeing the results, and we know
this isn’t working.
The Results:
How many times more money does a Corporate Executive earn versus the average worker?
Source: Business Week
- In 1960, it was 41 times more
- In 1970, it was 79 times more
- In 1980, it was 42 times more
- In 1990, it was 107 times more
- In 2005, it was 411 times more
Source: USW Rapid Response
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