The Occupy Wall Street protests hinge on injustice, in particular a malaise with the current economic system that has brought us a tremendous inequality and the rise of the super-rich, or top 1 per cent. But surely that is just the U.S.?
Alas, no. The figure below shows the change in B.C. labour income (wages and salaries) and corporate profits (before tax) going back to 1991. They are presented as an index, with 1991 = 100. While total labour income doubled between 1991 and 2009 (not adjusting for inflation or population growth), corporate profits rose by 700 per cent at their peak in 2008, before dropping somewhat in 2009.
Figures from BC Ministry of Finance, Financial and Economic Review 2011, p. 22.
This article was first posted on The Progressive Economics Forum.
Thank you for reading this story...
More people are reading rabble.ca than ever and unlike many news organizations, we have never put up a paywall – at rabble we’ve always believed in making our reporting and analysis free to all. But media isn’t free to produce. rabble’s total budget is likely less than what big corporate media spend on photocopying (we kid you not!) and we do not have any major foundation, sponsor or angel investor. Our only supporters are people and organizations -- like you. This is why we need your help.
If everyone who visits rabble and likes it chipped in a couple of dollars per month, our future would be much more secure and we could do much more: like the things our readers tell us they want to see more of: more staff reporters and more work to complete the upgrade of our website.
We’re asking if you could make a donation, right now, to set rabble on solid footing.