The 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?