Basic Facts

My digging around in the Fortune 500 data — part of the slow progress toward the Courting Carmageddon book — shows that the annual revenues of the biggest 100 U.S.-based corporations is now (2011) equal to 50% of U.S. GDP. This is achieved with a number of employees equal to 8.7% of the U.S. labor force.

In 1954, by the way, the Top 100 took in revenues equal to 24% of GDP with employees numbering 7% of the national labor force. Thus, the revenue share has grown four times faster than the employment share, despite the rapid rise of the supposedly labor-intensive service sector of the corporate economy.

Talk about something that’s simply unsustainable! Alas, such utterly basic facts have zero chance of ever being reported in the marketing platform known as the mainstream corporate media…

McDonald’s, by the way, is not in the 2011 Top 100! It is #107…