Not just jobs but good paying jobs...

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We live in a consumer driven society. We buy stuff. The more stuff we buy, the more jobs are needed to create more stuff.

Supply-side economics assumes that we build "stuff", then people will buy it. It is a flawed theory from the get-go.

If people do not have money, they do not buy anything. No matter how much stuff you have, you cannot sell it if people do not have money.

Most people get money from their jobs. When they don't make enough money to buy anything other than necessities, including rent, then they are not able to buy "stuff". That is the problem with our economy.

As the graph above shows, wages have stagnated since the late 1970's. There was a time when wages were tied to production. If you produced more for the company, the company paid you more money. But, as you can see, they ceased to do that with the onset of Reaganomics. Give those at the top more money and they will create more jobs. How foolish were the American people to believe such nonsense?

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who believe the nonsense thrown up by the 'powerfuls' just so THEY 'try' (and succeed, and some fail) to get richer on their backs.

I remember also in the late 90s, all those 'internet startups' that would 'magically' make EVERYBODY become MILLIONAIRES overnight!

How foolish was that?

It's not jobs, jobs, jobs. It's wages, wages, wages.

They never prove it, and people are willing to work for peanuts if they had the choice between just that or nothing. And this chart gives evidence for that. So Republicans need to wake up or shut up.

K&R.

Great post!

But a quibble - calling worker's pay "worker's compensation" is confusing to me. I used to work for the Florida Worker's Compensation back in the day when it was on the job accident insurance. Our biggest lag back then was getting files set up for the people whose employer's had not gotten the insurance or had not filed the proper paperwork to make sure the workers and their doctors got paid.

A transnational corp isn't really interested in how much "stuff" an American can buy anymore - they are looking at a global market. Americans are increasingly just a part of a transnationals consumer base.

Other "people" in other countries now have the money and our fickle corps will simply shift to supplying them without a single thought to increasing worker wages here in the US.