Let’s take the stupid question first:
Last questions: How low should wages go? Wasn’t slavery great?
If someone isn’t creating value for their employer, they won’t get hired. THAT is what generates how low wages will go. If I have to pay someone more than they create in value, I won’t hire them. How is the voluntary decision to hire someone slavery? Oh wait, it isn’t, you’re just playing hyperbolic games.
When they lose too much money, CEOs get fired. The average CEO tenure is less than 6 years. There are CEOs out there who are grossly overpaid, and others who are worth every penny they get paid. As for the 9x increase, the other factor ignored is that the companies they’re running are, on average, about 14x the size they were in 1978. The median company in the Fortune 100 in 1978 had $3.9B in revenue. Today the median is $57B. So the job is substantially bigger than it was.
Google hires only top people (according to their standards) and pays them extremely well. They place their bets and take their chances. And do a pretty good job, looking at their returns.