Tuesday, July 28, 2015

Final Score: 331 to 1

CEOs Earn 331 Times More Than the Average Worker

(... and 774 Times As Much As Minimum Wage Earners)

An interesting proposal scheduled for a public vote in Switzerland, limiting CEO salaries to 12 times the worker average.  They can still be multi-millionaires, but the workforce would have to be paid fairly.  If the business is successful, the workers would be compensated with a reasonable share of that success.

Not a bad idea, although the regulatory details would be a nightmare.
(It was voted down.  The realization came that businesses would just reshape themselves in some fashion to escape the restrictions, and wages would be unchanged.)

The accelerating gap between the rich and everyone else is visible across the emerging globalized economy.  While the rich extract extraordinary wealth from the marketplace, the average citizen is losing ground.  The rich get quickly richer at the expense of everyone else ... in the world, literally.  Is that troublesome?

It is a particularly difficult concept to grasp unless you or someone you love has been the target.

Otherwise, we'll say, "Oh yes, so sad," and move on.