Capitalism: back to normal?

By Lynn Koh
May 15, 2011

Mother Jones has a great chart detailing CEO pay alongside what happened to the CEO's workforce this past year.

Overall, corporations profit have increased 38.8 percent last year, and the ultra-rich did not fare poorly either.  Jeffrey Immelt, whose General Electric is now infamous for paying zero dollars in taxes last year, saw his compensation jump an astounding 175 percent, while eliminating 17,000 jobs.  Harley-Davidson, which I mentioned in previous blog posts, squeezed concessions from their union workforce and cut 1,000 jobs anyway, while holding CEO compensation nearly constant at $6.4 million.

While activism against banks, right-wing governors, and the exploitation of excluded workers are flourishing, it's impossible to escape the impression that massive immiseration and indequality has not generated the social explosions - whether of left, right, or center flavors -- that many of us expected, and which we hoped our organized bases could interact with. 

The views expressed here are those of the author and do not necessarily represent those of the entire War Times project

Lynn Koh is a long-time activist in the anti-war movement, and is a labor organizer in the Bay Area.

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