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Who: Kimball Corson. Text and Photos not disclaimed or that are obviously not mine are copyright (c) Kimball Corson 2004-2016
Port: Lake Pleasant, AZ
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The Greatest Unknown Heist by Stealth in World History

15 June 2016 | Pago Pago, American Samoa
Kimball Corson
Real wages have not risen for decades because, beginning in 1973, corporate America or Capital stole all of Labor's productivity gains since then, leaving real wages flat since. It is the greatest, unknown heist in world history involving huge dollars. Corporate America did it by fiat and its proximity to and control of the the corporate revenue stream. Normally, wages would rise at the marginal rate of labor's productivity as before 1973, according to classical economics and marginal productivity pricing of productive inputs, the historical model earlier used. Here, greater real Labor productivity resulted in no gains to Labor because corporate America or Capital misappropriated them in the greatest heist ever.

It was done by fiat and simple accounting adjustments: hold Labor's real wages constant and have corporate America or Capital take all the gains. A major change in the capitalistic compensation model and a major factor in the skewing for the mal-distribution of income we have. Not surprisingly, capital's share of national income has risen in recent decades in proportion to the decline in Labor's share.

How was it done without a grand conspiracy or collusion. Simple. Greed coupled with conscious parallelism. How come we haven't heard about it? Because few have reviewed the data, few understand marginal productivity pricing of factor inputs, few have known about the accounting adjustments and few in academia dare to write about it for fear of jeopardizing their corporate funded research grants and funds.Just like there is comparatively little research in top American universities on the problem and implications of America's worsening income distribution.

If you are a young assistant professor at Harvard, Chicago, MIT or Stanford and seek tenure, you steer clear of those topics like they were the plague. It took a European, Piketty, to write "Capital in the 21st Century," on topics American academics could not deal with, at least objectively. Alternatively, you might take an apologist's position, such as explaining away the differences on the basis of CEOs and businessmen being better educated and smarter than the rest of us. Our corrupt congresses' role in granting economic favors to the rich who have good lobbyists and make large campaign contributions, operates to the same ends. It is a thoroughly rigged system without policing.

If America only knew. But this is too far above their heads and so they are the duped patsies.
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Vessel Name: Altaira
Vessel Make/Model: A Fair Weather Mariner 39 is a fast (PHRF 132), heavily ballasted (43%), high-aspect (6:1), stiff, comfortable, offshore performance cruiser by Bob Perry that goes to wind well (30 deg w/ good headway) and is also good up and down the Beaufort scale.
Hailing Port: Lake Pleasant, AZ
Crew: Kimball Corson. Text and Photos not disclaimed or that are obviously not mine are copyright (c) Kimball Corson 2004-2016
About:
Kimball Corson: I am a 75 year old solo sailor, by choice. However, I did take on a personable, but high maintenance female kitten, now a full grown cat, named KiKiPoo when she is sweet, or KatKatPo after she has just killed something like a bird or bat. [...]
Extra:
Although I was a lawyer and practiced law with good success for thirty years, creating significant new law, I never really believed in the law, the politics of law or in the over reaching self-interest of most lawyers I met. Too much exposure to Nietzsche and other good and seriously thoughtful [...]
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Profile

Who: Kimball Corson. Text and Photos not disclaimed or that are obviously not mine are copyright (c) Kimball Corson 2004-2016
Port: Lake Pleasant, AZ