According to a new Gallup poll, 72 percent of Americans say that big government is a greater threat to the U.S. in the future than big business or big labor, a record high in the half century that Gallup has been asking the question. The previous high for big government was 65 percent in 1999 and 2000:
Wages and salaries as a proportion of GDP in blue, contrasted with government expenditure as a proportion of GDP in red:
Yes; correlation does not prove causation. Yes; there are lots and lots and lots of other factors involved — the end of Bretton Woods, globalisation, deindustrialisation, the birth of the computer and the internet, financialisation, the United States’ growth into a global imperial power and more recently the beginnings of a decline.
But whatever the exact causality this does not make happy reading for those who lean toward the idea that more government involvement in the economy translates to a bigger share of the pie for the working class.
Quite the opposite — while wages have just hit an all-time low, corporate profits have just hit an all-time high: