We now live in an era of “conspicuous executive pay,” only understandable as a social phenomenon because its extravagance has ceased to have any economic logic.
The United States was founded on the idea of concentrating wealth in the hands of a few white men.
America is facing the same giant concentrations of wealth and economic power that endangered democracy a century ago.
Income inequality will continue to rise unless we close the performance pay loophole and curb the growth of executive compensation.
The latest annual edition of the AFL-CIO executive compensation Web site calculates the ratio of CEO to average worker pay at 350 companies in the S&P 500.
The 100 CEOs in the latest Times executive pay survey took home a combined $1.5 billion last year.
Did changing cultural values degrade the importance of the two-parent family, which then led to income inequality? Or did the rise in income inequality cause the disintegration of families?
American higher ed policy has gone from being visible and effective (the GI Bill and Pell grants) to being invisible and inefficient ($32 billion in federal funding for for-profit colleges with abysmal graduation rates).
A “culture of poverty” isn’t eating away at America’s core values. A “culture of wealth” is.
This city of innovation has become a place where you have to step over the homeless to buy a $20 artisan coffee.