The Economist of August 20, 2011, p. 67 figures out which of the big rich countries have been hardest hit by the recession. Britain is worst. The US and Italy are next on the misery list, then Canada is slightly better, Japan better still, France even better and Germany has fared the best. All the countries have seen negative growth in GDP per person since 2004 excerpt Germany where GDP per person has grown slightly.
Factoids from a Robert Reich article in the Sep 4 San Francisco Chronicle Insight section, p.E5:
1. The last decade has been the worst in a century for American workers. Wage gains in the last 10 years have even lagged behind wage gains during the great depression.
2. Big American corporations make more money, and create more jobs, outside the US than in.
3. CEO pay has soared. The median value of CEO compensation at the 350 biggest Corporations was $9.3 million a year, not including stock options.
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