‘Since the early 1980s, living standards for most of the UK’s workforce have becoming progressively detached from growth. The gains from a growing economy became increasingly unevenly divided in favour of a small group at the top, leaving significant sections of the rest of the population (roughly the bottom 60 percent) lagging behind the average rise in prosperity, and at an accelerating rate’ writes Howard Reed. As well explaining the declining wage share Reed proposes a new social contract to...
- Raising the wage floor for those currently in work
- Capping and/or restraining pay at the top
- Extending the role of collective bargaining
- Reinstalling the goal of full employment
http://blogs.lse.ac.uk/politicsandpolicy/archives/35827
http://www.tuc.org.uk/tucfiles/611/How%20to%20Boost%20the%20Wage%20Share.pdf
