The rise in U.S. income inequality in recent decades is largely due to massive wealth accumulating at the top of the income scale. The press and popular culture treat this phenomenon almost as if natural forces were guiding it -- an invisible hand dealing out different shares to different people. But the hands doing the dealing are in fact quite visible. They belong to the directors of the boards of the major companies in the U.S. and around the globe. One key source of wealth at the very top is the pay of the executives of our largest companies. That pay is approved by corporate directors, who are themselves paid for their service. Many of those directors are also executives at other companies, meaning they sit on both sides of the arrangement….Salaries for top executives and payments to board members are all publicly available inside shareholder filings, but have never been displayed in an easy-to-explore way. Researchers at the Center for Economic Policy and Research compiled the data, and The Huffington Post is presenting it here as part of a new project focusing on one major element of income inequality. Were calling it Pay Pals. [HuffPost]
Posted on: Fri, 14 Feb 2014 23:21:51 +0000
Trending Topics
Recently Viewed Topics
© 2015