An inflationary tsunami is passing through the world economy, creating economic disorder — in some cases acute political crisis — in every country it touches, writes John Ross.
wages growth
The union movement faces big challenges in ensuring that any changes to bargaining extends workplace rights and protections. Sarah Hathway reports.
Government action and worker solidarity are key to overcoming the scourge of insecure work and ensuring pay rises keep pace with inflation and productivity improvements, argues Graham Matthews.
Last month I read an article that first appeared in the Huffington Post titled "X Marks the Spot Where Inequality Took Root: Dig Here".
It explains how real wages in the US shadowed growth in productivity in the years after World War II. But in the mid-1970s wages growth completely stalled.
If wages had continued to shadow productivity growth they would now be double what they are today. This explains a lot about contemporary US society: all the gains of increased productivity have been absorbed by the rich.
