The three largest items on the list of public expenditures in Denmark (and many other countries)are retirement, health …

This paper provides evidence from the US and Denmark that managers with a business degree (“business managers”) reduce … their employees’ wages. Within five years of the appointment of a business manager, wages decline by 6% and the labor share … by 5 percentage points in the US, and by 3% and 3 percentage points in Denmark. Firms appointing business managers are …

We show that U.S. manufacturing wages during the Great Depression were importantly determined by forces on firms …