Joe Biden’s “Build Back Better” agenda puts the American worker front and center. His experienced nominees can make his aspiration to “reward work” a reality. But to do that, they need business and investors to work together with labor and engage with the government to restore a level playing field and give workers their just share of the prosperity that they create.
For too long, the people most important to the success of our capitalist economy — the workers — have not received their fair share as companies became more subject to the power of investors demanding immediate profits. For the past 40 years, worker productivity increased 70%, the S&P 500 grew more than 700% in value, CEO compensation skyrocketed by 940%, but the hourly wages for average workers rose by only 12%.