CEO pay has been skyrocketing not because they have gotten more important, but because they're all sitting on each others' boards giving each other pay raises a

CEO pay has been skyrocketing not because they have gotten more important, but because they're all sitting on each others' boards giving each other pay raises and because CEO pay is public knowledge, they just go back to their board and say "look what I'm now worth." It is a regulatory problem and a power problem. It is laughable to think people have that much extra value. Those are teachable skills, and the cost of that education is not nearly as much as is being spent.