First of all, according to your link, the richer countries seem to already be at much higher values, second I have no idea where that 50 percent value comes from even if we ignore the variety in distribution over the various countries.
The countries look darker but if you mark a western country, the shown numbers are slightly bigger than 60%.
If a country has 66% of GDP in form of wages, and you increase the wages by 50%, you need 33% of the GDP which leads to 99% of the GDP being used for wages. Obviously there can’t be more.
Thanks for the explanation. It kind of makes sense, but I’ll still try to play devil’s advocate… If people only get slightly more than 60 percent of the value they create, is the rest really only there to make the rich people richer or is it being used to pay off a loan the company might have gotten to pay for a large machine or something? With the bank receiving, obviously, the excess money, which they then use to pay their employees and buildings etc? These numbers seem to suggest that all money that isn’t paid to employees directly feeds the greedy ruling class, but it isn’t mentioned explicitly and maybe the excess money goes somewhere else as well? Not trying to say it has to be like that, just trying to get a better understanding.
Yes, it’s not black and white. E.g. small shop owners don’t receive wages so they are not included.
Overall I think it shows that the rich don’t take everything so that a motivation for change should’t try to earn more but to improve other problems of society.
https://ourworldindata.org/grapher/labor-share-of-gdp
60% of GDP are wages. People can earn 50% more if all profits would be handed out as wages.
I have no idea how that makes any sense.
First of all, according to your link, the richer countries seem to already be at much higher values, second I have no idea where that 50 percent value comes from even if we ignore the variety in distribution over the various countries.
The countries look darker but if you mark a western country, the shown numbers are slightly bigger than 60%.
If a country has 66% of GDP in form of wages, and you increase the wages by 50%, you need 33% of the GDP which leads to 99% of the GDP being used for wages. Obviously there can’t be more.
Thanks for the explanation. It kind of makes sense, but I’ll still try to play devil’s advocate… If people only get slightly more than 60 percent of the value they create, is the rest really only there to make the rich people richer or is it being used to pay off a loan the company might have gotten to pay for a large machine or something? With the bank receiving, obviously, the excess money, which they then use to pay their employees and buildings etc? These numbers seem to suggest that all money that isn’t paid to employees directly feeds the greedy ruling class, but it isn’t mentioned explicitly and maybe the excess money goes somewhere else as well? Not trying to say it has to be like that, just trying to get a better understanding.
Yes, it’s not black and white. E.g. small shop owners don’t receive wages so they are not included.
Overall I think it shows that the rich don’t take everything so that a motivation for change should’t try to earn more but to improve other problems of society.