My follow-up interview with British economist Andrew Smithers is up at Paul Solman's "Making Sen$e" (PBS NewsHour) page.
Our discussion is about the decades-long decline in labor's share of output. Andrew sees bonus-oriented management compensation as the main cause, and, at the link, gives more of his reasoning. He sees some merit in the idea that a weaker environment for antitrust regulation may also be part of it, and he considers the bottom-line effect on the earnings of the S&P 500.
