CEO pay declined in 2023: But it has soared 1,085% since 1978 compared with a 24% rise in typical workers’ pay
CEO pay declined in 2023: But it has soared 1,085% since 1978 compared with a 24% rise in typical workers’ pay
CEO pay dipped in 2023 but remains enormous compared with the pay of other workers.
The cult of the CEO must end.
76Around the country, collective action is in a resurgence. I saw striking aircraft workers today. I believe it was Beech, but I’m visiting family and can’t say for sure as Wichita KS is a manufacturing hub.
30Wichita is Spirit, the company that makes the plane bodies for Boeing. That's most likely part of the Boeing strike
7
What if we just made all the workers into CEOs?
25Like the workers owned and operated the business? Their hard work would be rewarded with profit sharing? That would actually mean I'd have to care about the shareholders.
36But what if those workers owned the business too? Like what if it was beholden to the same kind of person who goes to work every day like the people who worked there?
What a world that would be.
17
Let the age of microcorporations begin
5That doesn’t work. You need a decision maker.
It’s not a terribly difficult job so they don’t need to get paid more than anyone else, but executive action by committee doesn’t work.
2executive action by committee doesn’t work.
Is there actually any evidence for that? Isn't that basically what they have in Switzerland? And they are one of the absolute richest countries in the world.
Above the CEO is usually a committee called the board, which govern all stock companies, and by far the most successful big companies are stock companies.Companies run by a CEO without responsibility towards a committe (board) have much higher risk of doing something incredibly stupid that ruin the company. And can't be removed no matter how incredibly stupid and harmful they are to the company.
For example as we see with Elon Musk and Twitter. Donald Trump and his Casinos. Pillow guy. Michael Dell.
Funny enough also Steve Jobs at first, but then taken in to rescue Apple successfully later.6
I hope one day I can see labor universally organized. I sadly don’t think I will, but that’s the dream
20One Big Union!
1
And average corporate profitability isn't much different than it was in the late '70s. So that means the CEOs are being massively overpaid, and there's a weakness in corporate governance that prevents shareholders correcting the problem.
1So let's start killing em
0Misleading headline is misleading. Median household income is up well over 400% in that same period.
-28Median income was $71K in 1979, it’s $80K today.
Inflation matters.
14I think it's supposed to be inflation adjusted?
13Bruh
5You're using nominal rather than inflation-adjusted numbers. That's misleading.
1Cool, real wages are up too. And, it's not at all misleading as the CEO pay figure in this article isn't adjusted for inflation, either.
0