“ONE THING I MISS IS THE TIME AMERICA HAD BIG DREAMS ABOUT THE FUTURE" -ANDY WARHOL

The truth of our actual condition in the last eight years is sobering, and the new understanding of it will affect our trust in institutions and government for a very long time. The crucial analysis was done a while back by the former President of Harvard and economist, Larry Summers, who pointed out that there was a very great difference between the fortunes of capital and labour during the boom. 'While workers normally received three-quarters of corporate income, with the remainder going to profits and interest, the (US) Economic Policy Institute has calculated that since 2001, labour has received only one-quarter of the increase in corporate income, as real wages have failed to keep pace with productivity growth.'

The Guardian
Sept 21 2008