Rich people explaining why wages aren't rising

An interesting story in The Asheville Citizen-Times about why wages in the NC Mountains aren't increasing.

The main quotes come from the chief economist at an Asheville consulting company, the chief economist at an Asheville wealth management advising firm, and the CFO of a local development firm. Basically, they say that the goods and services that mountain workers produce just aren't very valuable.

Which raises the point: what goods and services do chief economists and CFO's produce that justify their no doubt high compensation?



Robert Reich's answer

"Corporate profits have reached their highest share of the total economy in 85 years. Meanwhile, labor’s share has reached its lowest point." - former Labor Secretary Robert Reich


The measure of our progress is not whether we add more to the abundance of those who have much; it is whether we provide enough for those who have too little. - FDR