The Tom Wood Show Episode 2193.

Prepare to set fire to the index card of allowable opinion.

Your daily dose of liberty education starts here.

The Tom Wood Show.

Hey everybody, we all know it is time for us to break up, but everybody's status quo bias is

standing in the way of this obvious and humane solution. Check out my brand new ebook

called National Divorce, the peaceful solution to irreconcilable differences, which you can get

for free at nationaldivorce.com. Hey everybody, Tom Woods here. We're talking today about

the myth of labor's declining share, that is the allegedly declining amount of dough going to labor

from the national income, or that labor is not being paid according to its productivity anymore,

that there's been a divergence between labor productivity and what labor is compensated.

And the result of all this is that you have all kinds of commentators ringing their hands about,

well, I guess this is just what the market economy does, so you can see what follows from that.

This has even fooled some libertarians because it is actually a myth, and our old friend Jean

Epstein is going to explain to us why this is actually a myth. People are just reading the data

wrong. This is not actually happening. It's in people's imaginations. It's not real.

And you know Jean Epstein, by now director of the Soho Forum, former economics editor at Barons,

also was chief economist for the New York Stock Exchange. He has a long, long list of things he's

done and accomplished in his life, but I am glad to say that right now his chief thing he's going

to be doing is talking to us right here on the Tom Woods show. Welcome back Jean, it hasn't been

too long. Now it hasn't happened that long that time and it's always a privilege and a pleasure

to be on your show. And as we agreed this time I'm not going to indulge in an excess of intros

...