Originally Posted by
HongKonger
It isn't. But executive pay has skyrocketed in the past couple of decades while real wages for front line workers have stagnated or even dropped during the same period.
It would be more accurate to say that pay for rare skills has skyrocketed relative to those positions requiring less rare skills.
Originally Posted by
HongKonger
It's part of what has destroyed the American middle class.
This isn't OMNI, but better explanations are to be found in looking at household compositions and the impact of increasing competition (read: not locking out women and minorities) in the workplace.
Originally Posted by
HongKonger
Let's ask whether it makes sense. If that level of pay is justified, Richard Anderson must be a better executive than Ford, Rockefeller, Carnegie and their peers. I assure you he isn't.
Are you suggesting that Richard Anderson has accumulated more wealth than Ford, Rockefeller, and Carnegie did? Aren't the incentives required to be offered to professional CEOs quite different from those required to attract the entrepreneur? Frankly, I don't think you could be more wildly off-base with a comparison than this one.