Karl Marx foresaw something that’s now playing out. As corporations cut labor costs to increase profits, they also destroy the markets for their goods and services. This chart shows corporate profits (red) and wages as a percentage of GDP (blue) from 1944 to 2012:
Let's Not Prove Karl Marx Right
Let's Not Prove Karl Marx Right
Let's Not Prove Karl Marx Right
Karl Marx foresaw something that’s now playing out. As corporations cut labor costs to increase profits, they also destroy the markets for their goods and services. This chart shows corporate profits (red) and wages as a percentage of GDP (blue) from 1944 to 2012: