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Economist Ted Bauman Writes About How Employees Have Been Getting Placed Last By Big Business Since 1976

Ted Bauman is an economist who has been writing about the economy and investing for the past several years. Prior to this, he was in the nonprofit industry where he focused his efforts on helping low-income people around the world by providing them with affordable homes. He moved to Atlanta, Georgia, along with his family and now writes for publications issued by Banyan Hill Publishing.

He attended the University of Capetown and earned dual degrees in both history and economics. He soon entered the business administration program at the State University of New York after graduating from the University of Capetown. He also has an MBA he earned in 2001 at Georgia State University. His education led to him working as an economist in multiple countries while also working for various nonprofits.

A phenomenon that Ted Bauman has written extensively about his how wages are not rising for employees despite a tight labor market and massive profits for big businesses. Throughout American history, and especially from the 1940s up through 1976, whenever labor markets got tight companies would have to boost wages in order to retain good employees and attract new ones. Pay also kept track with productivity during this period.. For example, from 1948 to 1973 productivity in America increased by 97 percent while employee pay rose by 91 percent.

It was in 1976 that this was no longer the case, Ted Bauman has written. Since that year productivity has been advancing at a 74% rate while pay has been severely lagging at just a 12% clip. Companies have gotten away with this because they have used their money and commensurate political power to make sure that just senior executives and shareholders gain from the American economic boom.

Ted Bauman has written that business executives view low employment rates as a huge threat to their power. They regard it as horrifying that they might have to pay employees more and do everything in their power to prevent this. This includes shutting down union activity and the mainstream media plays into this narrative by acting as if regular folk getting paid more is a threat to the economy when the opposite is actually the truth.

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