What does this chart show? It demonstrates that from WWII until about 1973, average workers in the USA shared in the benefits and reaped the fruit of their own increased productivity.
It also shows the extent to which, for most people, the economy broke in 1973. The fundamental bargain that underpinned the American dream - "if you work harder, you'll proposer" - simply stopped being true.
TPM cites some probable culprits:
I'm reminded of my previous posts on this topic - on how screwed the middle class has been in the past decade, and on how our tax code demonstrates that we value wealth over hard work - but the starkness and simplicity of this one chart is refreshing, and chilling.
Simply put, the economy broke for most people in the 1970s, and the fundamental bargain underpinning the American dream was betrayed. I don't know if it will be possible to restore, and I fear for the future of the country if workers continue not to earn their fair share.