IMF documents labour’s declining share of global income


IMF documents labour’s declining share of global income

Nick Beams

12 April 2017

In recent weeks, as part of the intensifying war drive against Russia, various US politicians have put forward the proposition that Vladimir Putin and his government’s campaign of “disinformation” are responsible for rising social discontent in the US and other major economies.

In US Senate hearings at the end of last month, Florida Republican Senator Marco Rubio claimed Putin was engaged in “informational warfare,” seeking to exploit social protests in order to portray America as a disaster.

Mark Warner, the ranking Democrat on the Intelligence Committee, claimed that Russia was using disinformation to “undermine America’s strength and leadership,” while Republican Susan Collins said the Russians were “trying to disrupt society” and “cast doubt on Western democracies.”

Senator Chris Coons, a Democrat, joined this chorus, claiming that the regime of Vladimir Putin was alienating people in the West from their governments and undermining trust in “our institutions.”

In other words, the growth of social opposition in the US, Europe and the major economies is the product of a Russian plot.

A report issued by the International Monetary Fund this week, Chapter 3 of its World Economic Outlook, prepared for its spring meeting later this month, exposes the farcical character of the attempts by the increasingly desperate ruling classes in the US and elsewhere to revive the propaganda of the Cold War.

Titled “Understanding the Downward Trend in Labor Income Shares,” it details the massive transfer of wealth from labour to capital over the past four decades, one of the main drivers of ever rising social discontent.

According to the IMF analysis: “In the advanced…

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