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my name is demitria, i'm 21 years young and living in the 408, i like to be among friends, listen to music, be in the sun, dance, draw and write. i am an adventurer and a design junkie. i love my tumblr :]

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Following

Occupy Wall Street: A Protest Against a Broken Economic Compact

Historically—and particularly during the post-World War Two economic boom that created a vibrant middle class in our country – productivity increases have translated into tangible benefits for ordinary working people. As Steven Greenhouse and David Leonhardt of the New York Times wrote in a 2006 article, “For most of the last century, wages and productivity — the key measure of the economy’s efficiency — have risen together.” But in the last three decades that linkage between workers’ wages and their productivity, a core component of America’s economic compact, has been severed. A March 2011 study by the Economy Policy Institute stated that “the typical worker [in both public and private sectors] has had stagnating wages for a long time, despite enjoying some wage growth during the economic recovery of the late 1990s.” The same study indicated that “while productivity grew 80 percent between 1979 and 2009, the hourly wage of the median worker grew by only 10.1 percent, with all of this wage growth occurring from 1996 to 2002, reflecting the strong economic recovery of the late 1990s.”

Young people who have entered the labor market in the last ten years, burdened with historically onerous student debts, have experienced the broken compact in a particularly striking way. As the same report notes, “The fading momentum of the 1990s recovery failed to propel real wage gains for college graduates… from 2002 to 2010, despite productivity growth of 20.2 percent over the same period.” It is little surprise that students and recent graduates have identified in large numbers with Occupy Wall Street.

And because those kids have been saddled with endless amounts of debt from school, while simultaneously living in an age of such radical technological advancement and opportunity, and are watching their parents struggle with the thought of retirement, you better believe they are going to be royally fucking pissed to the point of implementing substantial, drastic change. Little power lies with the abstraction of “American Capitalism,” when we know better than anyone how to navigate, control and change the tangible world. I’m coming for you, 1%.

(Source: azspot)