Wednesday, July 30, 2008

The difference between left and right

The Standard has a powerful reminder of the difference between left and right: the left works for the many, while the right works for the few. And there's no clearer example of this than the way the wage-share of the economy (that is, the portion of society's wealth which flows to ordinary people, rather than the tiny elite at the top) changes over time:

Under left-wing governments, the many get more. Under the right, we get less. The difference is due to employment law - and national's employment policies (90 days of "fire at will" and a restriction on union access and bargaining rights) are very much aimed at you getting less. Think about that when you vote this November.

The long-term trend (which can be pulled from table 1.1 of the full series here) is even more revealing; that share used to be more than 50% (and sometimes as much as 55%). So, we have a lot more ground to make up - and it's not going to happen under National.