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The Threat of Declining Wages

Source: www.industryweek.com
Date: November 29, 2016
Link: www.industryweek.com
Author: Michael Collins

Since year 2000, Gross Domestic Product growth has been an anemic 1.8%, and consumer consumption is now 71% of the economy. The relentless effort by the corporations to reduce labor costs has been very successful, but now consumer consumption is not high enough to buy all the goods that America’s factories can produce.

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