In the UK, labour’s share of national income has declined from 75% in the 1970s down to only 65% today. In the United States it’s down to 60%. Hourly wages at the bottom could be raised quite a lot by reversing these losses. There’s plenty of room for this within companies too. CEO compensation has grown to dizzying heights in recent decades, with some executives capturing as much as $100 million per year. And the gap between CEO salaries and the wages of average workers has exploded. In 1965, CEOs earned about twenty times more than the average worker. Today they earn on average 300 times
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