One simple metric of inequality in the UK:
in 1980 the ration of median FTSE100 CEO pay to median UK wages was: £1 - £11;
In 2022 it had become £1 - £118.
I think it's safe to say that is not commensurate with the improvement in the conduct & success of the top management of UK corporations; nor, should it be said, a fall in the contribution to the UK economy of the work of the general population.
The rentiers (as we know) have stolen our wages.
#inequality #economics #corporations
h/t FT
as its a ratio there's not much need; you're right that the nominal value of £1 in each instance, is not the same as its 'real' (inflation) adjusted value; but as real wages have been largely stagnant for over a decade the ratio's increase still holds, as each side will have seen the nominal rises (on which the per-£1 ratio is based), while the 'real' rises will only have been seen by the CEOs, as the ratio suggests
Indeed it is; if anything the Blair Govt colluded with the development of excessive wages for CEOs...
@ChrisMayLA6 @luketrevorrow I don't have numbers but i get the impression that privatisation and contracted outsourcing have radically increased the numbers of intermediaries. Each of which enable C level people to extract these excessive C level salaries.
But they add no value. They're just standing in the flow at an artificial bottleneck.
Emeritus Prof Christopher May
Luke Trevorrow
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