Friday, June 24, 2011
Ezra Klein, Washington Post
Ezra Klein, Washington Post
Ezra Klein Explains The Mentality of The Rich
Klein explores the relationship between executive pay and executive ego.
[excerpt] When you're talking about changes in CEO pay, you're not talking about changes in the money CEOs use to make ends meet. You're talking about changes in a compensation package that has long since become totally abstract. Making $50 million is nicer than making $40 million, but the things it's buying, and the things it's saying about you, are, at that point, positional: it's a display of worth, not the way you put food on the table. People sometimes ask what CEOs need with all this money. The answer is they don't need it. But they need to not be making less money than other CEOs. If they are making less, then what does that say about them?
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Posted by Editor on 06/24/11 at 06:53 AM •
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