The United States GDP has been increasing over the decades but the share for workers of the GDP has decreased. Who is getting the bigger slice of the pie every year if it is not the workers? Is this a bad thing? Is this due to technology replacing workers?

Microeconomics A Contemporary Intro
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The United States GDP has been increasing over the decades but the share for workers of the GDP has decreased.

Who is getting the bigger slice of the pie every year if it is not the workers? Is this a bad thing? Is this due to technology replacing workers?

FRED
Percent
52
51
50
49
48
47
46
45
44
43
42
41
1950
- Shares of gross domestic income: Compensation of employees, paid: Wage and salary accruals: Disbursements: to persons
1960
1960
1969: 51.0
1970
Source: U.S. Bureau of Economic Analysis
1980
1980
1990
2000
fred.stlouisfed.org
2010
2020
0₂0
D
Transcribed Image Text:FRED Percent 52 51 50 49 48 47 46 45 44 43 42 41 1950 - Shares of gross domestic income: Compensation of employees, paid: Wage and salary accruals: Disbursements: to persons 1960 1960 1969: 51.0 1970 Source: U.S. Bureau of Economic Analysis 1980 1980 1990 2000 fred.stlouisfed.org 2010 2020 0₂0 D
Expert Solution
Step 1: introduction (Basic concept)

GDP represents the total value of all goods and services produced over a specific time period within a nation's borders.

Worker's share of GDP represents the portion of national income, or the income from GDP, that is paid out as wages, salaries, and benefits to workers.
It provides an indication of the distribution of national income between labor (workers) and capital (owners).


 

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