Books by Rick Wartzman

Economists have tended to assume that the value of our personal contribution—our marginal product—largely determines what we get paid. In reality, there are many other factors involved that have nothing to do with our qualifications or personal performance. Here Jake Rosenfeld, Professor of Sociology at Washington University in St Louis, explains why it is that senior executive pay growth has shot up in recent decades and why, for workers at the bottom, it has flatlined.