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Author Topic:   Executive Pay - Good Capitalism Bad Capitalism?
Taq
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Posts: 9944
Joined: 03-06-2009
Member Rating: 4.8


Message 29 of 135 (746754)
01-09-2015 1:43 PM
Reply to: Message 1 by Straggler
01-08-2012 6:50 PM


the wider context - What is 'Good capialism' and what is 'Bad Capitalism' and who (if anyone) decides which is which?
Executive pay is a good example of how capitalism is not a synonym for western democracy. Stealing from Churchill, capitalism is the worst type of economy, except for all of the others. For all of its injustices and inequalities, it is still better than the other economic systems, at least in practice.
What we have in western style first world nations is a very interesting interplay between our democratic ideals and the inherent injustices of capitalism. We say that all men are equal, but then we don't pay them equally. What we do instead is use regulation to rein in capitalism in the name of social justice. With regulation, too much and you risk killing the benefits that a capitalist economy brings. Too little regulation and you see disparities that lead to civil unrest. You have to find that balance between injustice and benefit.
On the spectrum of injustices, exec pay is probably an evil that is worth living with. What we need to get over is the idea that the level of salaries reflect an exec's merit. It doesn't. It is unfair. It is unjust. We need to get over it since trying to fix the injustice will probably do more harm than good.
Edited by Taq, : No reason given.

This message is a reply to:
 Message 1 by Straggler, posted 01-08-2012 6:50 PM Straggler has replied

Replies to this message:
 Message 30 by xongsmith, posted 01-09-2015 1:46 PM Taq has not replied
 Message 38 by Straggler, posted 01-12-2015 9:35 AM Taq has not replied

  
Taq
Member
Posts: 9944
Joined: 03-06-2009
Member Rating: 4.8


Message 61 of 135 (824655)
12-01-2017 4:55 PM
Reply to: Message 42 by RAZD
12-01-2017 12:06 AM


Re: What someone gets vs what they earn
RAZD writes:
Looks like he found a vulnerable system to exploit, like all professional athletes, and was happy to do so.
Athletes are different than CEO's. Athletes actually have to bargain with their bosses for their salaries. In the case of CEO's, there is often collusion between executives and the people holding the purse strings to raise their salaries as high as possible. At least with professional sports there is some level of antagonism between parties.

This message is a reply to:
 Message 42 by RAZD, posted 12-01-2017 12:06 AM RAZD has replied

Replies to this message:
 Message 68 by RAZD, posted 12-02-2017 9:07 AM Taq has replied

  
Taq
Member
Posts: 9944
Joined: 03-06-2009
Member Rating: 4.8


(1)
Message 117 of 135 (824886)
12-04-2017 5:03 PM
Reply to: Message 68 by RAZD
12-02-2017 9:07 AM


Re: What someone gets vs what they earn
RAZD writes:
So you agree that having a powerful voice in negotiating compensation with "the people holding the purse strings" is more likely to lead to a fair(er) share of the profits of the corporation (and sports are corporations), and that the players unions means that it is more equitably shared with all the players?
But then we come to the star players. Are they exploiting the system to get more than other players? What's a fair share?
League minimum for a rookie player is almost 1 million a year. The top salary is 32 million a year. That seems pretty equitable to me. Even rookie players who barely make it into the league are making a really nice paycheck.

This message is a reply to:
 Message 68 by RAZD, posted 12-02-2017 9:07 AM RAZD has seen this message but not replied

  
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