09/24/2021

In Labor vs. Capital, Manufacturing Plays an Outsize Role, Report Says

The decline in the U.S. industrial base over the past couple of decades is the main factor eroding the share of American national income that goes to middle-class workers, according to consultants at McKinsey & Co. For decades, labor’s share of gross domestic product has shrunk—while the share that goes to capital like profits, interest…

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