Economic policy institute is the leftist think tank that created that fabricated graph, by using only wages, when everyone fully knows benefits have become a larger part of compensation since 1975, and using two different inflation adjustments for productivity and compensation.
Reality is that productivity and "total compensation" is not divergent.
@akellinquinnfan Your work should not be more valuable even though you dig 1 million times faster? This is why letting commies anywhere near economics is always a disaster.
@SpectoCustodes He does, if he owns the excavator he gets paid multiple times more than the man with shovel. If he doesn't own the excavator then a lot of the money he would have been paid goes to buy and maintain the excavator, but it still raises his pay.
@TrannyDefender People serving people for profit is exactly how we got abundance. People collectively owning have remained in extreme poverty.
Fascists are collectivists fyi. So still looking for the difference.
@FishyBOS Workers can have the means of production, in fact under capitalism many of them already do, bc capitaliam already allows for it. But you have to acquire the means through voluntary trade or through creating it.
I don't know what you mean by speculative. Buying capital equipment, setting up a factory is not the same thing as speculation.
Someone works and saves their labor for later, in currency. They then buy capital equipment, that capital represents their prior labor. Prior labor is them combined with current labor to produce products and services, both prior labor and current labor providers get compensated.