I am agnostic on whether CEOs are overpaid but to imply that inequality impoverishes workers is not true. The conflation of inequality with suffering is simply not logical.https://twitter.com/BrentWelder/status/1030847965517279233 …
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There’s a whole literature on relative deprivation. Wealth is not zero sum but power is. Basic 101 pie size/share arguments aren’t going to help understand low versus high inequality regimes and why latter cause strife. https://en.m.wikipedia.org/wiki/Relative_deprivation …
All interesting but not relevant in my view to a complain that high CEO pay (a few thousand people maybe) impoverishes workers.
Not sure higher pay for wealthy means more social status layers. To poorer people, ceo making 500k is experienced same as one making 600k. Marginal utility of dollars for both diminishes fast. "Rich" is status that non-rich care about. Not $ amount.
More stress at bottom in any political/economic system. I'd strongly argue capitalism has done more to raise the quality of life of everyone than any other system.
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