Imagine a world where CEOs still earned 20 to 30 times the compensation of ordinary employees, $2 million to $3 million a year. These pay structures would look very different. And, with less going to the top, there is more for everyone else. Suppose that in a world where the CEO of GM got $3 million and the pay of other top management was adjusted downward accordingly. This might free up around $200 million a year for ordinary workers. That would come to $4,000 a year for each of GM’s 50,000 UAW members. That doesn’t completely reverse forty years of stagnating wages, but it’s a good start. More

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