Robert Pollin Quotes
For the last 40 years workers have not obtained any share of the productivity gains they have produced.
While it was true that wages did not increase beyond inflation, the enormous increase in productivity—about a doubling—was not only due to the workers but was also due to the capital investment that the companies made in computers, robots, job restructuring, advanced training, and other management initiatives. Historically, when there are substantial productivity increases, the benefit is shared between the workers and the company as both were necessary to produce the increase in productivity. But since 1980, the workers have not obtained any significant share of the productivity increase.
Robert Pollin, Economist, Speech, South Hadley, MA, February 12, 2013
Sourced by: Eigen's Political and Historical Quotations
She was writing about the textile mills of Manchester, England in the Industrial Revolution. Workers’ wages were so low that many of them could not feed themselves and their family decently
In his economic view, managers, accountants, attorneys, owners, shareholders, landlords, were all supported by the workers who have to support themselves and all the others.
This is not a common quotation from Thoreau. The great man for whom the establishment had so much respect had a very anti-capitalist streak. His view is that the employer will generally never pay his laborers a fair wage. Instead he will pay the laborer the lowest rate for which he can obtain the laborers services. If the laborer generates added value for his wage, the employer is in a zero sum game with the laborer. If part of the added value—the profit is paid to the laborer, the employer does not have it for himself (or his stockholders). In most cases, the laborer is forced to work for his and his family’s subsistence. This theory argues that they only way the laborer will get a fair wage is if there is a labor shortage (assuming no government laws or union pressure is in the picture. Many capitalists argue that a “fair” wage is what a free man is willing to work for and a free employer is willing to pay. So economics is like politics in general with respect to fairness—there is no universally accepted definition of what is fair.
Jefferson was one of the first political and economic thinkers to express concern over the “wage slave” concept of the industrial revolution. This was one of the major reasons that he was not in consonance with Alexander Hamilton in his economic vision for America. While we followed the Hamilton direction, there are still issues of maintaining freedom and independence for an employee in modern nations and economies.
Ten cents a day was a very low wage—it was about the equivalent of a meal at a tavern at the time. Workers throughout the country were outraged and give him a derogatory nickname—see Quotation 643585.
The reason the age rave grows faster than the median is that there are some earners at the top who increase by huge amounts while the rest of the population did not grow by much. This is the same phenomenon in England that occurred in the United States in the same period, only the United States differential was even greater.
Robert Pollin is an American economist. He is a professor of economics at the University of Massachusetts Amherst and founding co-director of its Political Economy Research Institute (PERI). He has been described as a leftist economist and is a supporter of egalitarianism.
