If you read liberal columnists, bloggers, etc., you have surely seen them lamenting Big Labor’s loss of members and power since the 1950′s. According to them, it was Big Labor that created and sustained the middle class.
However, Robert Samuelson’s column yesterday included some figures that contradict those assumptions. In 1950, labor received 59% of the National Income in wages and fringe benefits, while business profits were 32%. By 2011, after decades of decline by Big Labor, labor’s share had risen to 62% while profits were down to 30%.