A fascinating paper about the rise in inequality in the US.
Much to chew over there.
American Inequality
May 11th, 2008 · 1 Comment
Tags: Economics
Tim Worstall
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1 response so far ↓
1 dearieme // May 11, 2008 at 1:09 pm
“The core distinction is that superstars and other market-driven occupations have their incomes chosen by the market, whereas CEO compensation is chosen by their peers in a system that gives CEOs and their hand-picked boards of directors, rather than the market, control over top incomes. …. We endorse their idea that managerial power lies behind some of the outsized gains in CEO pay”. Well, of course. It’s become undeniable, surely, that the executives pillage the shareholders.
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