9 years ago
CEO pay out of line with free markets
The ties between boards of directors, who set compensation levels, and chief executive officers is too incestuous to be considered free market negotiations.
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CEO Pay Continues to Rise as Typical Workers Are Paid Less
We have argued above that high CEO pay reflects “rents,” meaning it does not indicate a growth of executives’ individual contribution to raising output. Consequently, CEO pay could be reduced and the economy would not suffer any loss of output.
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