Class War and Labor's Declining Share

Bibliographic Data

ID9200644
AuthorsFred Magdoff, John Bellamy Foster (0000-0001-7418-3004)
Year2013
Volume64
Issue10
Pages1
Publication date2013-03-01
Open AccessNo
TypeARTICLE
VenueMonthly Review (JOURNAL)
Journal identifiersISSN: 0027-0520 • E-ISSN: 0027-0520
PublisherMonthly Review Foundation (PUBLISHER)
DOI10.14452/mr-064-10-2013-03_1
OpenAlexW2085637054
LanguageEN
Citations received5

Given [the] background of high unemployment, lower-wage jobs, and smaller portions of the pie going to workers, it should come as no surprise that, according to the U.S. Census Bureau, nearly 50 million people in the United States live in poverty (with income in 2011 below $23,021 for a family of four) while another 50 million live between the poverty level and twice the poverty level—one paycheck away from economic disaster. Thus, the poor (those in poverty or near poverty), most of whom belong to the working poor, account for approximately 100 million people, fully one-third of the entire U.S. population.... Wage repression and high unemployment are the dominant realities of our time. A vast redistribution of income—Robin Hood in reverse—is occurring that is boosting the share of income to capital, even in a stagnating economy. Is it any wonder, then, that for years on end polls have shown a majority of the population agreeing with the statement that the United States is on the wrong track and not headed in the right direction?This article can also be found at the Monthly Review website, where most recent articles are published in full.Click here to purchase a PDF version of this article at the Monthly Review website

Census · Demographic economics · Development economics · Economic growth · Economics · Labour economics · Political science · Population · Poverty · Redistribution (election) · Sociology · Surprise · Unemployment · Wage · Wonder · Demography · Law · Political Economy and Marxism

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