Whats Wrong with Sky-high CEO Pay?
Critics of exorbitant executive compensation tend to fall into two camps. One is composed of people who see the ever-widening gap between CEO and worker pay as a trend that undermines their hopes for a healthy, democratic, and just society. Many in this camp point to the excessive influence of the wealthy on our political institutions. Given the fact that politicians must raise enormous sums of money to get elected, the concentration of wealth in the hands of a few wealthy CEOs/campaign contributors throws our democratic system out of kilter. Voters see the “wealth primary” all too clearly for what it is, and increasing numbers stay home on election day. Concentrated economic power has translated into concentrated political power and a set of rules governing both corporations and the broader society that benefit the few at the expense of others. This shift in rules undermines the democratic structures upon which financial markets and social harmony rest. Others in this camp argue again
