BUSINESS
12/10/2012 08:37 am ET

Paul Krugman: 'American Economy Is Still, By Most Measures, Deeply Depressed'

The American economy is still, by most measures, deeply depressed. But corporate profits are at a record high. How is that possible? It’s simple: profits have surged as a share of national income, while wages and other labor compensation are down. The pie isn’t growing the way it should — but capital is doing fine by grabbing an ever-larger slice, at labor’s expense.

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