Opinion | When Bosses Shared Their Profits – The New York Times:
The richest 1 percent now own half the value of all shares of stock; the richest 10 percent, 92 percent.
Those higher share prices have come out of the pockets of workers. Daniel Greenwald at M.I.T.’s Sloan School of Management, Martin Lettau at the University of California’s Haas School of Business and Sydney Ludvigson at N.Y.U. found that from 1952 to 1988, economic growth accounted for all the rise in stock values, but from 1989 to 2017, growth accounted for just 24 percent. Most came from “reallocated rents to shareholders and away from labor compensation” — that is, from workers.
I bitched about this for the last 20 years.