In the 1980s, just over 25% of US firms were run by what he and his co-authors call business managers. By 2020, that share was over 40%. The share of GDP that goes to workers has been declining from 63% in the 1980s to 58% today. Did the professionalization of the managerial class cause the labor share to fall? Asamoglu wanted to know if or how those two trends were connected.
New research finds that bosses who went to business school pay their workers less. So what are M.B.A. programs teaching — and should they stop?