During Ronald Reagan’s terms as president, the percentage of GDP accounted for by manufacturing fell from 21% to 14%, and the percentage accounted for by finance rose from 14% to 21%. As between compensations awarded to the high-end and the low-end, the differential at last count in 2009 stood at 263 to 1.
Read MoreLewis Lapham on the job situation in the US (ca. 2010)