No single statistic, in isolation, tells us particularly much. Numbers only gain real meaning when we compare them. Take, for instance, the figure for the increase in CEO pay last year at major American corporations. A statistic for this increase — 6.4 percent — appears in the just-released 2018 edition of the AFL-CIO’s annual PayWatch report on corporate compensation.
This piece misses the obvious. CEO pay (or anybody’s pay) has nothing to do with performance (which can be defined many ways). What human beings receive for their work is a direct function of political and economic power relationships in the workplace and society. (See Marx, et. al. for details).
Clearly, capitalism (and the power that goes with it) is most highly developed in the U.S. At present there is no counter-force here that can even begin to seriously question the current political economy of the U.S.
Job 1 is to build a peoples’ power base through various organizing struggles and to unite them – while trying to survive living in the belly of the most heinous beast the biosphere has ever seen. Grass-roots organizing doesn’t pay shit (often nothing at all), but it is useful work. And necessary for human survival.
How sad that USA ceo’s can’t be purchased for what they are worth and sold for what they think they are worth.
The deficit would be gone… and everyone would be rich.