Economists like to fashion themselves as the “adults in the room.” However, their notion that incomes are determined by productivity is naïve. It ignores the role of power in the determination of distribution. The guise of objectivity that economists give to distribution diverts us from the difficult adult conversation that we must have: who should get what and why?
My employer’s stock price is 400% of what it was when I was hired, my wage has gone up 20% in the same period.
I can not wait for this house of cards to collapse. I have enough food, water, and locally stored media to barter my way though the first hump and get rescued by the Europeans.