Dec 9, 2002
Over the last 30 years, average pay for American workers has moved upwards, but just a little. Adjusted for inflation, the average salary rose from $32,500 in 1970 to $35,800 in 1999, a modest increase of 10%.
During that same period, pay of the top 100 chief executive officers rose from an average of 1.3 million dollars in 1970 to 37.5 million in 1999 – more than one thousand times the pay of ordinary workers.
By the end of the 20th century, times had been mighty good for a certain select few. But this is the 21st century, with more than enough wealth to go around if we're ready to make sure it gets divided up.