Billionaire property developer Tim Gurner said that "We need to see unemployment rise. We need it to rise 40-50%. We need to see pain in the economy. We need to remind people that they work for the employer, not the other way around"

9/16/2023

Billionaire property developer Tim Gurner said that "We need to see unemployment rise. We need it to rise 40-50%. We need to see pain in the economy. We need to remind people that they work for the employer, not the other way around."

Gurner admitted his remarks “were wrong” in a subsequent apology.

In the U.S. from 1978 to 2021, according to the Economic Policy Institute, economic productivity grew more than 60%. Yet the typical worker’s wages — which in previous decades had roughly tracked productivity — grew just 18%. The wages of the top 1% of earners, however, grew 385%. CEO pay grew by more than 1,000%.