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Consider just one piece of data: CEO pay. Do we really thing CEOs have gotten hugely better since the 1960s, while workers haven't? 2/pic.twitter.com/3oGkd0g9Bj
Bear in mind that CEOs get lavishly rewarded even when they screw up massively. 3/https://www.nytimes.com/2020/01/10/business/boeing-dennis-muilenburg-severance.html …
I'd add that even to the extent that free-market forces drive market inequality — which is dubious — tax and spending policy can offset much of this rise. Not doing so is a choice 4/
Hear, hear!
What happens to high profile economists who predict that the economy will crash if a certain president gets elected?
CEO is expected to give heart and soul to the company unlike regular workers. The money is poor compensation for loss of personal interest, etc.
@nytdavidbrooks
Hahaha! I hope you’re joking.
That is unseemly. He is essentially being fired. That amount should be cut in half at least.
I learned that yrs ago reading Halberstam's The Reckoning. Ford CEOs always got their golden parachute no matter what. The union said, well that's fine, give us some. Of course CEOs are still cashing in; workers have lost job security while taking pay cuts.
When my spouse's company was purchased the CEO received a $60 mil golden parachute. The CEO was a temporary hire. Maybe he held the job for 2 years. My wife got two personal days and only 3 weeks to use them. Otherwise the days evaporated.
When my former CEO gambled our company on a merger that ended up going bad he got a 12 million pound parachute and we got wage rollbacks, benefit cuts, layoffs, higher goals with less support.
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