This smart, short video explains why top executives’ income has grown much, much more than workers’ pay – and how we can reduce that gross inequality.

August 21, 2019 GlenAnderson Economics, Labor, Capitalism, Trade, Poverty (Also see Taxes), Examples of Parallax Views, Governmental Abuses, Our Current Political Crisis (in addition to Trump and Trumpism), Political Parties and Elections (Also see Democracy ...) 0

Robert Reich (a previous administration’s Secretary of the Department of Labor) has continued to pay close attention to public policy issues, especially related to economics and political fairness.  He wrote this:

Average CEO pay at big corporations topped 14.5 million dollars in 2018. That’s after an increase of $5.2 million per CEO over the past decade, while the average worker’s pay has increased just 7,858 dollars over the decade. Just to catch up to what their CEO made in 2018 alone, it would take the typical worker 158 years.

This explosion in CEO pay relative to the pay of average workers isn’t because CEOs have become so much more valuable than before. It’s not due to the so-called “free market.” It’s due to CEOs gaming the stock market and playing politics.

How did CEOs pull this off? Our latest video explains their scam:

 

–> Watch Robert Reich’s video.  It’s shorter than 4 minutes long, but it is very informative:  https://www.youtube.com/watch?v=9QWjFiFdeDU&feature=youtu.be

 

 

 

About GlenAnderson 1514 Articles
Since the late 1960s Glen Anderson has devoted his life to working as a volunteer for peace, nonviolence, social justice, and progressive political issues. He has worked through many existing organizations and started several. Over the years he has worked especially for such wide-ranging goals as making peace with Vietnam, eliminating nuclear weapons, converting from a military economy to a peacetime economy, abolishing the death penalty, promoting nonviolence at all levels throughout society, and helping people organize and strategize for grassroots movements to solve many kinds of problems. He writes, speaks, and conducts training workshops on a wide variety of topics. Since 1987 he has produced and hosted a one-hour cable TV interview program on many kinds of issues. Since 2017 he has blogged at https://parallaxperspectives.org He lives in Lacey near Olympia WA. You can reach him at (360) 491-9093 glen@parallaxperspectives.org