So how does that explain the insane money being paid to executives?
The laws of supply and demand has to apply here and institutional stock holders are not stupid when it comes to reasons that companies are not profitable.
While most are insanely overpaid I don't think it means everyone else deserves a huge raise. A 100M company can afford to pay a CEO 1 million plus easy. But paying a bunch of employees $300k? No way.
The thing that makes it great to live in a free country is that if someone doesn't like the pay they are offered they can start their own company. They are not forced to work for that amount. If enough say they aren't working for that it will push up the wage.
While there are many good employees the majority don't do themselves any favor's with their crap work ethic and general attitude of not giving a crap about anything. Around here in construction, if you can find someone who shows up everyday, has a heartbeat and is capable of tying their own boots they are ahead of 80% of the workforce.