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April 05, 2007
It's a Good Life!
Well it is, if all you look at are corporate profits.
Via Kevin Drum, I discovered this report from the Economic Policy Institute. It analyzes current economic growth (4th quarter 2006) compared to economic growth averaged across previous economic cycles. The snapshot shows several areas including GDP, employment growth, and business investment, and all areas are below normal growth, except for one — corporate profits. In fact, those profits are growing more than twice as fast as in the past.
The employment growth rate is especially disturbing, because it is so low. A country that privileges corporations over its own working people and middle class is a country that is not sustainable, in my opinion. Our economy is working for someone, but that someone is not us.
Posted by jnfr at April 5, 2007 08:23 AM