The genius of capitalism
"Raising America’s Pay - Why It’s Our Central Economic Policy Challenge," Josh Bivens, Elise Gould, Lawrence Mishel, and Heidi Shierholz, Economic Policy Institute, June 4, 2014I look at the chart above and see my working career, 1973 - 2015.
Two decades ago, CEO's were paid about 40 times more than the average hourly employee; now they make more than 500 times the wage of the average hourly employee. The Marine Corps commandant is paid just 13 times more than a new private in boot camp.
― Robert Hemsley, paper mill worker, July 20, 2002
[From 1970 to 1999], according to Fortune magazine, the average real annual compensation of the top 100 C.E.O.'s went from $1.3 million - 39 times the pay of an average worker - to $37.5 million, more than 1,000 times the pay of ordinary workers.
― Paul Krugman, The New York Times, October 20, 2002
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