Write an essay on labor`s share of income in the U.S. Your essay must address the following questions;How the BLS estimate the U.S. labor share?What is the general pattern of labor`s share of income in the U.S.? How economists explain the recent developments in the U.S. labor share? Please review and summarize competing approaches, including Neo-Classical Economics, Keynesian perspectives and Marxist perspectives.Do labor unions affect labor`s share of income?Discuss the relationship between Labor`s share of income and income distribution in the U.S.?Do economic policies (monetary policy and fiscal policy) affect the U.S. labor share?Keywords: Wage share, capitalism, labor unions, technology, inflation targeting, austerity, income inequality