ABSTRACT
In contemporary societies the main threads of explanation usually invoked in some form when explaining income inequality are merit, the logic of the market and luck. The main beneficiaries of good luck in the labour market often seek to deny its role, either by emphasizing that their rewards derive entirely from their meriting them or their being an inevitable consequence of market forces. The internationalization of some labour markets has further raised the pressure to inflate pay in the most senior positions. A consequence of the demise of localized economies has been to provide conditions in which “winner-take-all” markets can thrive. In contemporary labour markets the combination of an information deficit and the incentive for recruiters to do the “best” that they can for their employers partly reinforces the status quo. This is to the continuing disadvantage of those whose predecessors were shut out by overt prejudice.
