Over the past several decades, there has been a trend of wealth, assets, and income becoming more and more concentrated among a smaller and smaller percentage of the population at the so-called top. According to the Economic Policy Institute, in 2020 the average CEO was paid 351 times the salary of the median worker, a ratio that is up astoundingly from 1965, when the average CEO made a salary of just 21 times the median worker. Meanwhile the top 10% of Americans own 89% of stocks according to 2021 data, and Americans who were invested in the stock market increased their wealth much more significantly during the pandemic than those who did not (although 2022 has been a different story, as the stock market is down over 20% for the year).
Dumb Luck and Golden Handcuffs
Dumb Luck and Golden Handcuffs
Dumb Luck and Golden Handcuffs
Over the past several decades, there has been a trend of wealth, assets, and income becoming more and more concentrated among a smaller and smaller percentage of the population at the so-called top. According to the Economic Policy Institute, in 2020 the average CEO was paid 351 times the salary of the median worker, a ratio that is up astoundingly from 1965, when the average CEO made a salary of just 21 times the median worker. Meanwhile the top 10% of Americans own 89% of stocks according to 2021 data, and Americans who were invested in the stock market increased their wealth much more significantly during the pandemic than those who did not (although 2022 has been a different story, as the stock market is down over 20% for the year).