Monday, September 9, 2013
Corporate capitalism's track record
See this report by the Institute for Policy Studies. They examined the performance of 241 CEOs who were among the highest paid. The capitalist rationale is that they deserve it because they produce value not only for their shareholders but for society and the economy as a whole. They earned their merit pay, right? Not so says the report, in fact to the contrary. Nearly 40% were bailed out, booted or busted. It's cronyism and corruption that rules the day for many. I'm also wondering though about the other 60%, if they are on the straight and narrow. And even if so, do they 'deserve' such high paychecks while the real income of the 99% is going down, not addressed by this article.