All this points to the changing topology of employment in the Exponential Age. This is an economy where intangible assets – the kind produced by well-educated knowledge-workers – are all-important. Those with high levels of education are compensated handsomely. At the same time, there remains a group of less well-rewarded, less highly skilled workers, who may not even be acknowledged as employees. In aggregate, the result is a reduced share of income that goes to employees. Middle-wage earners, who used to be the engine of Western economies, are evaporating.
