This liberal economist make a very good point about income distribution under capitalist class rule. Of course, he doesn't frame it that way. And, the headline to this article, while somewhat reassuring, is not supported by the factual content that he supplies. Even in the unlikely event that Social Security and Medicare programs are not cut, we will still see a further concentration of income distribution into the hands of the rich at the expense of the poor--just not as much.
...everyone should be screaming that workers have not been seeing the gains of productivity growth in the last three decades. This is exactly right. The wages of most workers have barely risen since 1980 because the vast majority of the gains from growth have gone to those at the top of the income distribution.
This is worth repeating a few hundred million times. Most workers have seen little benefit from growth because the gains have gone to those at the top.
