They’re talking about the decoupling of productivity and wages in the late 70s. If wages had increased in line with productivity increases minimum wage would be like $28-30/hr. The highest minimum wage (adjusted for inflation) was in 1968 and would be about $15/hr today. The real theft is that we produce so much more surplus value than 40 years ago and receive none of it in compensation.
They’re talking about the decoupling of productivity and wages in the late 70s. If wages had increased in line with productivity increases minimum wage would be like $28-30/hr. The highest minimum wage (adjusted for inflation) was in 1968 and would be about $15/hr today. The real theft is that we produce so much more surplus value than 40 years ago and receive none of it in compensation.
yeah, productivity. that’s what i get for posting tired