The CEO:worker wage ratio was stable in 2015/6, but some unnameable policy or policies, which we can only guess at, were at work in 2017, boosting the gap by 17.6% to 312:1.
It's really hard to imagine what possible explanation there could be for this mysterious rise in the fortunes of the wealthiest financial engineers in America, even as workers saw their fortunes decline. Someone should ask Mitch McConnell. He's good at this stuff.
“With wages for working people barely budging, it’s remarkable to see top CEO pay surging again,” said Mishel. “It is difficult to believe that Congress passed a tax cut weighted so heavily towards the wealthy when the nation’s top CEOs are clearly doing fine.”
Over the last several decades, CEO pay has grown much faster than corporate profits, the pay of the top 0.1 percent of wage earners, and the wages of college graduates. CEO pay largely corresponds with the overall stock market; 2017’s surge in CEO compensation was driven by stock awards and cashed-in stock options, not to changes in salaries or cash bonuses. Mishel and Schieder argue that this is evidence that CEOs are paid more because of the power to set their pay, not because they are more productive or have special talents or more education. Thus if CEOs earned less or were taxed more, there would be no adverse impact on output or employment.
Top CEOs’ compensation increased 17.6 percent in 2017 [Economic Policy Institute]
(Image: Mosaic 36, CC-BY)
In the wake of Blizzard/Activision's announcement of mass layoffs following record profits, Liz Shuler of the AFL-CIO has published an open letter on Kotaku addressed to workers in the notoriously abusive video game industry, calling on them to unionize as the only path to a fair deal.
Millions of tons of e-waste -- much of it from rich countries like Australia -- are recycled in India, in "markets" with terrible, dangerous working conditions and equally awful environmental controls.
The LA Times Guild has been negotiating a new contract with the newspaper, but has hit a wall thanks to an unprecedented demand from the paper's owners: they want writers to sign away the rights to nonfiction books, novels, movies and other works they create separate from their reporting for the paper. The newspaper is […]
What do Facebook, Twitter, YouTube and Google all have in common? Somewhere in their framework, they all use MySQL, that most versatile (and free!) of database management systems. And they’re not alone. If your company or the one you’d like to work for wrangles data (and who doesn’t?), they’re going to need someone with a […]
There’s a reason you’re hearing about the gig economy in every other business story these days. More than ever, people are finding income from more than one source. And if you find the right one, a side hustle can do more than just pad your pockets – it can allow you to finally get paid […]
High-def cameras are available to anyone and for much less than they were just a decade ago. Even the phones in our pockets can be used to shoot and edit short films. It’s never been easier to be a filmmaker, providing you have the technique. Enter the Film & Cinematography Mastery Bundle, an online boot […]