Income gap

The age of globalization caused the wealth and income gap to widen. From 1947 to 1979 the average real hourly wage grew 2.2 percent per year and workers saw their standard of living increase but all that change since then. From 1979 to 2018 productivity grew 70% while wages for production workers grew at 12%. The workers did not benefit from increased productivity but management did. From 1978 to 2023 CEO compensation increased 1,085% while workers increased only 24%. Since 1980 corporate profits have steadily increased, reaching record levels in recent years. Since World War II, CEO compensation has seen a dramatic increase, especially since 1978, with a significant gap emerging between CEO pay and the compensation of typical workers. Trump’s rise to popularity started when he recognized the disparities caused by globalization and campaigned against it and in the process, he won over the working people. This caused considerable consternation among the elites and they are fighting back. This is happening in the US and around the world as the workers are coming to understand that it is time for change.