It depends on your point of view.
If you are one of those owners of capital at the top, well it’s been GREAT! But if you are a regular working Joe, not good at all.
From the graph you can see that everyone’s income went up along with productivity until around 1973. A divergence started and stayed fairly close until around 1980. Then in 1984, we heard this in and ad for President Reagan:
It’s morning again in America. Today more men and women will go to work than ever before in our country’s history. With interest rates at about half the record highs of 1980, nearly 2,000 families today will buy new homes, more than at any time in the past four years. This afternoon 6,500 young men and women will be married, and with inflation at less than half of what it was just four years ago, they can look forward with confidence to the future. It’s morning again in America, and under the leadership of President Reagan, our country is prouder and stronger and better. Why would we ever want to return to where we were less than four short years ago?
Well, maybe because even though the economy was in the doldrums for a few years preceding 1980, at least the wealth was kinda sorta still being shared. But after that, not at all.
And after Reagan we had George H. W. Bush, then Clinton, then W, and now Obama. And not one of them have been able to change the rules in our country that allow the richest of the rich to get richer and richer as the bottom 99% fall behind.
The rules of the game are rigged in favor of those who already have great wealth. If you read the article in The Atlantic where I found the graph, you’ll learn more about how and why the divergence started and continues to expand, and you’ll find out what might happen if we don’t do anything about it (it’s not good), and what we could do to start to close the gap. (Hint: spend money to improve the education of our population and improve our failing infrastructure).
If the rich want to avoid a revolution, they better start looking out for the health and welfare of the communities that supply them with workers; first by sharing the wealth that comes from increased productivity with their workers, and second by encouraging local governments to increase spending to repair our decaying infrastructure systems.