Capitalism’s Moral Crisis →

David Brooks, writing for The New York Times:

But now capitalism faces its greatest moral crisis since the Great Depression. The nature of that crisis can be captured in two statistics. When Facebook entered a deal to buy WhatsApp this week, it agreed to pay a price equal to $345 million per WhatsApp employee. Meanwhile, the share of the economic pie for the middle 60 percent of earners nationally has fallen from 53 percent to 45 percent since 1970.

This economy produces very valuable companies with very few employees. Meanwhile, the majority of workers are not seeing income gains commensurate with their productivity levels.

Can’t wait to hear Rush Limbaugh call Brooks a socialist.