1968 was a crucial turning point in the economic history of France. After 1968 France enjoyed almost 20 years when the working class saw large gains in wages. I

1968 was a crucial turning point in the economic history of France. After 1968 France enjoyed almost 20 years when the working class saw large gains in wages. Income inequality shrunk dramatically. See here: http://piketty.blog.lemonde.fr/2018/05/08/may-1968-and-inequality/#xtor=RSS-32280322 http://piketty.blog.lemonde.fr/2018/05/08/may-1968-and-inequ... an excerpt: In France the years 1945-1967 are marked by high rates of growth, but also by a movement of reconstitution of inequalities, with, at one and the same time, a steep rise in the share of profits in national income and the reconstitution of highly ranked salary scales. The share of the 10% highest incomes which was barely 31% of total income in 1945 gradually rose to 38% in 1967. ...The break came in 1968. As a way out of the crisis, General de Gaulle’s government signed the Grenelle Agreements which included, in particular, a rise of 20% in the minimum wage. The minimum wage was officially indexed on average wage gains in 1970 and, most importantly, all the successive governments from 1968 to 1983 felt obliged to grant very high ‘special hikes’ almost every year in a social and political climate far from stable. The result was that the purchasing power of the minimum wage rose in all by over 130% between 1968 and 1983, whereas at the same time the average salary only rose by about 50%, whence a very strong compression of pay inequalities. The break with the previous period was clean and wide-ranging; the purchasing power of the minimum wage had risen by barely 25% between 1950 and 1968, whereas the average salary had more than doubled. Driven by the strong rise in low salaries, throughout the years 1968-1983, the total payroll rose significantly faster than did production; as a result there was a considerable fall in the share of capital in the national income. All this took place at the same time as a reduction in the number of hours worked and an increase in paid holidays.