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The Outrageous Ascent of CEO Pay


#1

The Outrageous Ascent of CEO Pay

Robert Reich

The Securities and Exchange Commission just ruled that large publicly held corporations must disclose the ratios of the pay of their top CEOs to the pay of their median workers.

About time.

For the last thirty years almost all incentives operating on American corporations have resulted in lower pay for average workers and higher pay for CEOs and other top executives.

Consider that in 1965, CEOs of America’s largest corporations were paid, on average, 20 times the pay of average workers.


#2

I just want to point out that the mere prospect of "online solitaire" is an oxymoron. You play alone, why would you need to be connected online?

And it comes standard on every PC, you wouldn't need a website to download or stream it from.

COME ON. If they wasted their time playing solitaire, it'd just be normal solitaire, not online solitaire.


#3

Thanks for highlighting two things in particular:

"The bill hasn’t made it through the legislature because business groups call it a “job killer.” The reality is the opposite. CEOs don’t create jobs. Their customers create jobs by buying more of what their companies have to sell. So pushing companies to put less money into the hands of their CEOs and more into the hands of their average employees will create more jobs."

"It turns out the higher the CEO pay, the worse the firm does. Professors Michael J. Cooper of the University of Utah, Huseyin Gulen of Purdue University, and P. Raghavendra Rau of the University of Cambridge, recently found that companies with the highest-paid CEOs returned about 10 percent less to their shareholders than do their industry peers."

The airwaves and then our consciousness get stuffed full of such Ayn Randian "Job killer!" and "They earned it!" plutocratic talking points that sort of sound plausible except they are falsehoods and lies.

And i appreciate the overall outline here, which demonstrates that the so-called "free market" is THOROUGHLY engineered, not the "natural phenomenon" portrayed by plundering plutocrats and their endless supply of mouthpieces and lackeys.


#4

Come on now Robert. The amerikan people admire wealthy people who F*** them in the ass with a white hot iron bar!