F. George McDuffee wrote:

For complete details see
Bogel, John C., "The Battle for the Soul of Capitalism" Yale
University Press, New Haven ISBN 0-300-10990-3 25$US at local
book stores, also from Amazon at a discount.

In response to your specific question (from page 17 in the
hardcover edition) for the S&P 500 corporations:
1980 CEO pay 42X the average [not median] worker's pay in their
organization
2000 CEO pay 531X the average worker's pay in their organization
2004 CEO pay 280X the average worker's pay in their organization



The people who shouldn't put up with this is the shareholders.

The thing that makes the free market work is that work flows to the
most efficient producer. In the case of executive pay, the
cronyism/corruption that has resulted in those gross imbalances is not
a case of the free market at work. Those guys are all padding each
others' bank accounts, sitting on the board of one corporation and
voting for higher wages for their buddies while their buddies do the
same for them in the next one.

There needs to be some sort of regulation over board entanglements like
that. Not likely to happen, not in the age of Cheney-ism.


thanks,

K. Gringioni.