Willy Hutton\’s becoming offensive now

So, we need to change global capitalism because all the wonga\’s going to profits these days, not wages. The problem with the analysis is that the statement about all the wonga going to profits is simply wrong.

Profits as a share of GDP in almost all western countries are at record highs,……

This just isn\’t true. The actual figures are here.

The labour share of income has fallen, yes. That\’s because the tax share of income has risen. The profit share isw around and about its long term average for the UK.

Hotton is working from incorrect facts. Thus, of course, his solution is the wrong one.

5 thoughts on “Willy Hutton\’s becoming offensive now”

  1. But if he were working from correct facts his solution would still be the wrong one. This phenomenon is called the Hutton Invariant.

  2. Hutton and fellow travellers also forget that “workers” are also quite often “shareholders” through savings and investments. You can’t look at an economy and divide it neatly into “owners” and “serfs” as Hutton clearly thinks he can.

  3. Non sequitur. Wages and company profits are not related subjects.

    Labor is a commodity. Like electricity or wheat.

    You pay what you have to pay to attract and retain people who can do what you want done.

  4. Eddy // Jan 20, 2013 at 2:06 pm

    What Gamecock, costs have no bearing on profits? I think you might be mistaken about that.

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    That is not the topic of this thread. Try reading again.

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