this post was submitted on 25 Jun 2024
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The US GDP is over $145,000 per person employed.
Median wage is less than half of that. Where is all the value going??
https://data.worldbank.org/indicator/SL.GDP.PCAP.EM.KD?locations=US
Mean, not median, would probably make more sense?
Value presumably goes to small number of people, and to value of various companies.
I think that's partly to show the point, median is a lower than something equivalent to mean, indicating the high skewess of the distribution.
The gdp vs wage angle is adding another point about about unearned income, rent and interest. I'd be slightly worried at not provisioning for fixed capital stock formation out of GDP - you do want to produce some of that stuff was well as consumption.
Of course you can argue about who is best placed to own the capital too - as well as how the fk it can be measured in a market price system. (I already see a LTOV comment further down).