Bosses Under Fire; Executive Pay  

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Jenis: Article from Bulletin/Magazine
Dalam koleksi: The Economist (http://search.proquest.com/) vol. 402 no. 8767 (Jan. 2012), page 11.
Topik: Executives; Wages & Salaries; Public Opinion; Politics; Economic Policy

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Perpustakaan Pusat (Semanggi) Nomor Panggil: EE29.69 Non-tandon: 1 (dapat dipinjam: 0) Tandon: tidak ada

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When things went wrong for Middle Eastern tribes a couple of millennia ago, the accepted remedy was to send a sacrificial goat out into the wilderness to placate the gods. The practice continues today, but the voters have replaced the gods, and highly paid businesspeople the goats. The growth of inequality all over the world encourages these rituals, and recent trends in remuneration certainly make bosses harder to sympathise with than goats. In Britain, where the latest bout of politicking about pay has broken out, chief executives can expect to receive average compensation in excess of Pounds 4.5m ($6.9m) this year. Pay at the top grew by over 300% between 1998 and 2010. At the same time, the median British worker's real wage has been pretty stagnant. These trends mean the ratio of executive to average pay at FTSE 100 firms jumped from 47 to 120 times in 12 years. This is feeding the view that there is something wrong with British capitalism. Britain's political parties, although deeply divided on most economic policy, are competing for a middle ground which demands action on pay.

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