The Power Elite - they all want more


Published Updated
Copy link for sharing

New report from LO: The Power Elite – they all want more
In 2009, the average gross income of the power elite was equivalent to 15 industrial worker wages. In 2008, the corresponding figure was 17 industrial worker wages. This decline in the power elite's income during 2009 reflects the impact that the financial crisis has had on the capital income of the business elite.

Since the 1980s, top incomes have increased markedly in Sweden. Changes made in the Swedish taxation system during the last decade will probably lead to even higher increases in top incomes.

Top salaries and variable remunerations are more frequent in the financial sector than in other sectors of the economy. Ill-conceived remuneration programs have probably been one of the factors leading to the financial crisis.

An increasing part of the economic power is concentrated to a minimal percentage of the population. This is troublesome, since large economic gaps can lead to, inter alia, a shift in the power relationships in the labour market. In the long run this constitutes a threat to the Swedish model.