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View Diary: Corporate profits are highest-ever share of GDP, while wages are lowest-ever (79 comments)

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  •  I tried to warn us in July, 2010 (1+ / 0-)
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    flitedocnm

    The Caterpillar story - Layoffs & moving plants to Right to Work (to pay low wages) States, and plants overseas

    Evidence: Eternal, Not Long-Term Unemployment, The Caterpillar Story

    In answer to those who are right:  Corporations exist to make profits, not to bow to social responsibility for American workers, I would like to posit that impoverishing American and European manufacturing workers, in the long run, will have a negative impact on the world economy and the corporations bottom line.  It's short-sighted.

    And as long as CEOs/Officers and shareholders reap huge rewards for being socially irresponsible in the moment in order to pump dividends for the quarter (as demonstrated below), they have little or no incentive to do so.  They simply grab their bootie, get rich, and if necessary, move on if they accidently tank the company.

    It's difficult to be happy knowing so many suffer. We must unite.

    by War on Error on Mon Dec 03, 2012 at 07:08:43 PM PST

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