equality and class

Swedish Wages More Unequal Than Ever

Company directors are earning more than 50 times as much as an industrial worker.

Writing in broadsheet Dagens Nyheter, union federation LO says that Sweden has never seen such a big gap in wages.

Since 1950 LO have looked at the incomes of what they call the ’power elite’. Today the bosses of the top ten risk capital funds can expect to take home around 95 times as much as an ordinary worker.

This report comes at a time when the financial system in Sweden and across the world is in crisis and under attack for its mismanagement of the economy.

The surge in wealth differences is less among the democratic and bureaucratic elite, but top politicians’ now get seven times more than an industrial worker, compared to to four times as much in 1950.