People were getting overpaid in the 1960s - because colonialism had impoverished Asia and Africa. Those countries couldn't compete with western countries (if anyone had said South Korea/Taiwan/Singapore would have a higher GDP than Europe everyone would have laughed at them).

Today the competition is fairer. No kid in a western country has an artificial advantage. If they are more brilliant (like Mark Zuckerberg or Steve Jobs) they do fantastically. If they fool around in school, they end up working for Starbucks.