Wednesday, May 18, 2016

CEO-to-worker pay ratios

New data by the AFL-CIO Executive Paywatch, available here. Note that union members do much better than nonunion members, and certainly than minimum wage workers.
For more context read this EPI report. You must admit that the use of flawed neoclassical thinking is sometimes amusing. In this Bloomberg post, an 'expert' (aka hired gun) from a free market think tank (pro-corporations propaganda machine) says that the "AFL-CIO study [is] 'useless' because it compares two different labor markets that should be evaluated separately. While most workers could easily be replaced, he said, CEOs are 'much harder to substitute.'" Yes, they are receiving according to their productivity, and is so hard to find these geniuses.

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