Peter Georgescu, chairman emeritus of Young & Rubicam, says that he and “many other chief executives” are “scared” of rising inequality.

Start compensating fairly, by which I mean a wage that enables employees to share amply in productivity increases and creative innovations.
The fact that real wages have been flat for about four decades, while productivity has increased by 80 percent, shows that has not been happening. Before the early 1970s, wages and productivity were both rising. Now most gains from productivity go to shareholders, not employees.

This storyline has been debunked by writers left, right, and center. Which makes it somewhat disturbing that Georgescu is finding “almost unanimous agreement on the nature of the problem” from the business leaders with whom he talks. Maybe they should read more?