Except that my focus is on other factors than total costs of labor for corporations. Feldman’s interests are a better balancing of the books from the perspective of corporate management, and pointing out the rise in non-wage expenses like health insurance payments, and other expenses that do not end up in workers’ pockets.
That’s all well and good, but meanwhile, workers — both full-time employees who may benefit from these non-wage expenses, and freelancers and hourly workers who do not — still are not seeing an increase in wages. Note that the proportion of freelancers continues to grow, and is estimated to be as high as 40% in some industries.
Handwaving about better accounting of non-wage expenses does not actually treat that growing inequality, as senior management’s pay checks continue to grow as steep multiples above the average worker.
And Feldman’s contemplations don’t actually dig into the mystery behind the mystery: why is productivity not growing?