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I think this is part of a long term development where technology and globalization slowly erode workers bargaining power. Basically you only build a factory in

by jcfrei 3mo ago

I think this is part of a long term development where technology and globalization slowly erode workers bargaining power. Basically you only build a factory in the US if you can keep labour costs low enough and the manufacturing automated enough so that you can still compete with other manufacturing hubs.

tokai 3mo ago
Other countries in the world have manage to keep workers bargaining power in the face of globalization and technological progress. I think in the case of US literally killing workers and union people is a huge part of why US workers lack power and why US unions are so impotent.[0] [0] see Battle of Blair Mountain and what work Pinkerton mainly did from its founding to WW2, as examples.
- wqaatwt 3mo ago
  > Other countries in the world have manage to keep workers bargaining power Such as? They might have managed to maintain it for privileged subgroups of the workforce but not for the average worker.
  - tokai 3mo ago
    The Nordic countries.
FuriouslyAdrift 3mo ago
The longer graph (starting at 1947) shows the shift in 2001 on more startlingly https://fred.stlouisfed.org/series/PRS85006173 https://fred.stlouisfed.org/series/PRS85006173 Corporate profit vs Labor income divergence (only up to 2018) https://fredblog.stlouisfed.org/2018/08/corporate-profits-versus-labor-income/ https://fredblog.stlouisfed.org/2018/08/corporate-profits-ve...
- jcfrei 3mo ago
  Fascinating. The 2001 shift aligns well with China's entry into the WTO.