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I’m sorry, but this is just class war crap. Instead of pitting workers against each other like the plutocrats want, always ALWAYS remember that even with all th
by jonathankoren 4y ago
I’m sorry, but this is just class war crap. Instead of pitting workers against each other like the plutocrats want, always ALWAYS remember that even with all that non-monetary compensation, the executives are still taking more 100x of the value created by the worker.
This is like complaining about some athlete getting paid millions to risk their health for entertainment, while not once giving a thought about the billionaire that pays them.
No one is buying a ticket to watch Jerry Jones sit up in a skybox. Similarly, no one buys a piece of software or a chicken breast because of some exec cruising away on inertia.
- ryandrake 4y agoBingo. Billionaires win when they convince thousandaires that millionaires are the real problem.
- cloutchaser 4y ago[flagged]
- Apocryphon 4y agoThey used to not be paid so much in the past. What's the scientific rationale that they should be pay more than before? I don't think there's any science involved on either side, it's simply a cultural practice that has arise with the growth of corporate earnings. On the flip side, if average worker comp has arisen only 12% since 1978, maybe that's not a scientifically-determined outcome either. https://www.cnbc.com/2019/08/16/ceos-see-pay-grow-1000percent-and-now-make-278-times-the-average-worker.html https://www.cnbc.com/2019/08/16/ceos-see-pay-grow-1000percen... https://www.epi.org/publication/ceo-compensation-2018/ https://www.epi.org/publication/ceo-compensation-2018/
- cloutchaser 4y agoActually there is a reason for the increase recently, globalisation and the internet. While a top exec in the 1960 might be serving a few million customers, maybe tens of millions, now it is in the billions (also population has increased). By the way, do you support the corporate raiders of the 1980s who were also extremely annoyed at how much execs got paid and fired them and reduced their pay? And they actually did it by putting their money where their mouth was and became shareholders in these companies, at great personal risk to themselves.
- Apocryphon 4y agoWhy hasn't worker pay arisen proportionally, since if they're working for multinationals they are similarly serving millions to billions? > And they actually did it by putting their money where their mouth was and became shareholders in these companies, at great personal risk to themselves. Judging by the steady growth in exec comp in Figure A of the second link, it doesn't seem like their efforts were very successful.
- cloutchaser 4y ago> Why hasn't worker pay arisen proportionally, since if they're working for multinationals they are similarly serving millions to billions? They have. In China and other assembly countries. And there’s your ultimate answer for what the actual problem is here. For Americans. Pretty good deal elsewhere.
- Apocryphon 4y agoA decade or so ago, maybe. It would appear that China is speedrunning the American postwar boom-to-bust experience. https://www.axios.com/2023/01/24/workforce-china-population-decline-economy-impacts https://www.axios.com/2023/01/24/workforce-china-population-... https://www.nytimes.com/interactive/2023/01/24/world/asia/china-unfinished-apartments.html https://www.nytimes.com/interactive/2023/01/24/world/asia/ch... https://www.cnn.com/2023/01/09/business/china-covid-tests-factory-protests-intl-hnk/index.html https://www.cnn.com/2023/01/09/business/china-covid-tests-fa...
- deleted 4y ago[deleted]
- jonathankoren 4y agoSealion goes bark.