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OpinionLetters

Letter: Labor is getting a smaller slice

U.S. gross domestic product contracted at an annual

U.S. gross domestic product contracted at an annual rate of 1 percent in the first quarter of 2014, the Commerce Department reported May 29, 2014. These factory workers are in St. Louis on June 3, 2009. Credit: AP / Jeff Roberson

Newsday's editorial, "Labor's changing direction" [Aug. 31] fails to mention that the changes in our economy have not been driven simply by some benign natural progression toward "efficiency" and the wonder of human innovation.

While rightly pointing out that these changes are shrinking the workforce and threatening the middle-class aspirations of generations of Americans, Newsday doesn't mention that as the nature of labor is reshaped, the capitalist continues to prosper at levels unimaginable historically.

The rich grow richer regardless of the ebb and flow of the economy, while the rest of us bear ever-increasing impediments to even modest prosperity. This is driven by the dictum that corporate profits must continuously grow to feed the investment portfolios of the 1 percent.

As for the rewards of education in the new global economy, ask the unemployed and underemployed college graduates what they did wrong to deserve this break of the American promise.

The pie that is America is still plump and delicious; it's just that labor, through no fault of its own, is getting a smaller slice.

Mike Cuomo, Calverton
 

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