In 1965, top CEOs made 20x more than typical workers in their industries. Now it's worse. Much worse.
Excessive compensation can ruin a CEO's judgment.
Two new imaginative state proposals are now seeking to leverage the power of the public purse against executive excess. In California, lawmakers are zeroing in on how government taxes. New legislation pending in Rhode Island targets how government spends.
This working paper was prepared for a forum on the top one percent to be published in the Summer 2013 issue of the Journal of Economic Perspectives. It is an analysis of the pay of the top 1 percent, specifically CEO's and top financial professionals as a form of "rent." In other words, the pay is not related to the talent or the productive effort of these individuals and if it were cut through taxation, there would be no harm to the economy.
All on Top Ten List of Highest Paid CEOs made at least $100 million.
The gulf between CEO pay and staff McWages is shockingly wide: a strike serves this system of super-exploitation right
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