Ben Oostdam story # 381


I had been scanning articles about excessive CEO salaries for a while, but got "scooped" by the editor of Lancaster New Era on the one hand, and by Robert Reich, author of "Supercapitalism", on the other...:

Armstrong is a worldwide company with HQ in Lancaster, PA - which has experienced a series of economic backlashes. There seem to be few reasons why its CEO should be receiving more than $ 10 million a year...
In fact, I think any salary over $ 1 million is almost obscene, as do many others,
including some but not all communists - but China is another story!
On a separate page, I present a number of recent articles about Armstrong which I scanned from the Lancaster New Era, the most sympathetic dealing with its CEO of half a century ago.(that rhymes!)

The above table in Reich's book shows
the exponential rise in CEO salaries as
opposed to average workers compensations.

The two tables on the right demonstrate
the growing growth of income inequality
in the last three decades:
(biblical injunction?)
A final comment about the title of Reich's book: I would have preferred
"Hypercapitalism" to "Supercapitalism".
If capitalism were good, then supercapitalism would be even better.
By contrast, the prefix "hyper" has a connotation of something excessive,
which has gotten out of hand, as in: 'hyperactivity' - which is exactly what Reich
implies happened with capitalism when it muted into supercapitalism in the last few decades.

LINKS: The Bible about rich and poor - American poor - poor rich man and rich poor man
U S Farm Subsidies - to those that have shall be given - Parable of Dishonest Manager (LUKE 16) -
BLO fecit 20080712b - stories