Thursday, January 11, 2007
Spiralling CEO Pay
While I am a firm believer that companies must pay for talent, and am opposed to mandated minimum wages, I have been disgusted recently by the megamillions CEOs have been drawing recently. This is a figure that brings home the reality of the recent years - it is from the group United for a Fair Economy, which describes itself as a nonpartisan nonprofit working for social change. I don't subscribe to their views, and have commented previously on how inequality doesn't mean prosperity for the poor (the poor in America compare favorably to the poor in Switzerland - they just make a lot less than the rich in America!). Nevertheless, this is part of what former Vanguard founder, John Bogle calls the battle for the soul of American capitalism.