|
Dear John,
Have you noticed that when workers get better wages, the media blames them for rising prices, but when corporations rake in record profits, there's silence?
As our most recent video explains, that's because corporate profits aren't tracked nearly as closely as worker wages. And the reason why comes down to power.
Every month we get measurements of prices, jobs, and wages — these are the three economic variables we hear repeatedly because they are released each month like clockwork. They’re viewed as the core criteria for how the economy is doing, and drive the national economic conversation.
But what’s missing from this conversation? Corporate profits.
Without a regular monthly report on profits it’s been easy for much of the media and the political establishment to conveniently ignore them — giving corporations cover to exploit very real supply chain issues while padding their margins.
As I explain in our video, if we measured corporate profits more often and more reliably, Americans might start to get the full picture about what’s been driving prices to historic highs.
Ultimately, the way we try to fix the economy is skewed in favor of big corporations and against regular workers, because the way we measure problems like inflation disregards the role of corporations.
Fixing inflation starts with understanding the truth — and sharing it.
Thanks for watching,
Robert Reich
Inequality Media
|
