Setting a maximum wage for CEOs would be good for everyone

Unknown’Could this be the long-awaited solution to economic inequality?…’

Via Big Think

2 thoughts on “Setting a maximum wage for CEOs would be good for everyone

  1. grzz40

    Perhaps a good idea, but it is at the very least un-American — that is, deeply un-American because it it an attempt to use legislation and regulation to govern culture before-the-fact, and that never works. After-the-fact doesn’t even work all that well, a lot of the time>

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  2. Scars

    No different from setting laws regarding the maximum amount of interest that can be charged. Or setting a minimum wage. Labor laws exist for a reason. And if the greater good is achieved by setting a maximum wage — preventing the type of generational wealth that assumes power and influence which keeps the rest of us struggling financially, I see nothing un-American about that at all.

    Trouble is, people are terribly ignorant of history. My grandfather grew up in a coal mining shanty. They didn’t get paid in American dollars, but in company script because that was perfectly legal back then. You had to live in company housing, shop at the company store (or the few which had a deal with the mining company for an exchange rate on the script). You couldn’t save up your money and move away and find a better job because you weren’t paid in real money. And credit wasn’t a thing back then so you couldn’t live off debt while you moved somewhere else. Needless to say, my grandfather ended up going to work in the mines like most of the children did back then. Hard to move away if you can’t afford an education to help pull you out of it.

    Things like this are the very reason that workplace laws had to be enacted because companies cannot and will not police themselves. They will do whatever they can get away with (much like most people will — which is why we have laws against things like fraud or theft). But most people are ignorant of the past and seem hell bent on taking us back to the “good old days”.

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