Monday, August 14, 2023

Yes, it's past time to start getting rid of the bosses

But making it happen is proving to be very challenging. That's no reason to give up, though.
Do our corporate CEOs deserve all those millions they annually pocket? Can a modern economy somehow survive without the “incentive” these mega millions provide? Do we, in effect, need our top corporate bosses pocketing more in a day than their workers can take home in a year?

We’ve been asking — as a society — questions like these ever since CEO paychecks started soaring in the late 1970s. Back in the 1960s, America’s CEOs averaged about 20 times what their workers were taking home. Today’s CEOs, analysts at the Economic Policy Institute detailed last October, routinely pocket 400 times and more what their workers are making...

But that executive greed — despite the spotlight on it — seems as entrenched as ever. And that reality has some analysts going beyond attacking how much our corporate chiefs execs make. These critics are increasingly wondering whether we need these chiefs at all. - CounterPunch

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