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Date: 2024-07-16 Page is: DBtxt001.php txt00023522
THE US ECONOMY
WAGES -V- PRODUCTIVITY AND PROFITS

My go-to graphic on the subject ... by Robert Reich decades ago


Peter Burgess COMMENTARY
For me, this has been a key economic idea for the best part of 30 years, maybe more.

After the second world war, there was a very constructive attitude to rebuilding economices and societies in order not to have the instability of unemployment that would likely occur as the military was deomobilised. In addition, substantial financial resources were mobilized in order to facilitate post-war reconstruction.

Sadly, the country that probably got the least benefit from these post-war initiatives was the United Kingdom that did not benefit from the Marshall Plan and was saddled with a huge repayment of 'lend-lease' moneys to the United States.
Peter Burgess




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