Economic Update: Gentrification: The Market Rules

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On this week's episode of Economic Update, Prof. Wolff provides updates on pay of CEO's that fight $15/ he for workers, workers who get public assistance, facts on taxes paid and evaded, Mitsubishi like VW. Major discussion on economics of gentrification.

 


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  • commented 2016-04-25 16:36:02 -0400
    On executive pay on a per-hour basis, if their ‘wage’ is based on a 40-hour week then that’s misleading. It’s FAR more than that for the simple reason those people don’t actually work nowhere near that much. They might put in 10 hours a week or two. And I’m even skeptical of giving them that much credit.

    The eons-long myth is that the corporate executive works upwards of 80 hours per week. Get real. I’ve seen quite a number of company leaders from execs to senior managers of mid-sized companies in action, and they don’t work hardly at all. I don’t count taking clients out for expensive dinners or equally expensive lunches as actually ‘work’. Nor that they may be traveling overseas on business means they’re putting in work the amount of time their pay would indicate.

    I’ve long believed that it is physically impossible to actually earn the obscene level of pay these crooks get paid. Because to earn anything means you either worked for it or was awarded it due to a significant achievement that few accomplish. Because execs are largely untalented and unskilled, and bring so tangibly little to the table, it makes what they earn that much more odious.
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