The
money to support well-paid American jobs exists—it’s just being hoarded
at the top. Economist William Lazonick argues that this is not just
unfair; it’s a failure of the whole economic system.
Excerpt:
"For the last 40 years, millions
upon millions of hard-working Americans have been clocking in, doing
their part — and getting less in return. They are very upset, as well
they should be. Wages have stalled. Job security’s a joke.
Yet corporate profits are sky high.
Just look at the scoreboard: In 2024, Apple raked in $93.7 billion,
Alphabet (Google’s parent company) pulled in $100.1 billion, and
ExxonMobil reaped $33.6 billion. Yet the workers powering these
companies aren’t seeing much of the immense value they have created.
Some of Alphabet’s contract workers only recently fought their way up to
$14.50 an hour. That’s not even close to a fair share of over $100
billion in profit.
So where’s the money going?"
