Robert ReichThe CEO-to-worker pay gap at America’s largest public companies is now 399-to-1.
In 1965, the ratio was 20-to-1.
Trickle-down economics was always a sham.
Gary D Lynne@rbreich , yes, and, with no scientific evidence that the 399-to-1 ratio increases company productivity. It is not about incentive, it is about excessive, unethical greed. Need to shift the conversation to just what is an adequate incentive (the 20-to-1) is likely much closer to being so, while everyone else also gets a piece of the pie. It is about "optimal inequality" .. see my Blog https://www.metaeconomics.info/post/adam-smith-on-income-and-wealth-inequality
Too Much Inequality? Time to Move Toward Optimal Inequality?
(Updated April, 2023) Krugman (2022) in the New York Times reminded me of what Adam Smith had to say about the matter of inequality, and, notice, I am talking here about inequality not redistribution. Krugman (2022) also points to the Realtime Inequality simulator developed by Thomas Blanchet, Emmanuel Saez, Gabriel Zucman, Department of Economics, at the University of California- Berkeley. The inequality in the US is unprecedented, and, needs to be dealt with. Also see Krugman, 2023, on the