16.10.03
Capitalists in their own words
Whats not to like about capitalism?
"Free market competition from other corporations who pay CEO's more" is offered as the rationale behind the steadily skyrocketing CEO compensation:
How far will we let it go?
Whats not to like about capitalism?
"Free market competition from other corporations who pay CEO's more" is offered as the rationale behind the steadily skyrocketing CEO compensation:
when the misguided controversy over Grasso's pay package first reared its ugly head, H. Carl McCall, the guy who now runs the compensation committee, explained that "you have to do what you can to retain good people."Never mind retaining non executives... as "free market competition from other corporations who pay workers less" if offered as the rationale behind reducing the pay and benefits of workers:
The store chains wanted workers to take on a larger share of the cost of their health care, citing a sluggish economy, rising health-care costs, and increased competition from rival chains such as WalMart, which don't employ union workers.Following this logic, capitalism means installing companies with the BEST management, and the WORST labor. And by BEST we mean best-paid, hence, RICH. And by WORST we mean least-paid, and hence, POOREST. In other words, capitalism, in the words of its own advocates, is about impoverishing the working class, and enriching the upper class. Think prison labor, think perpetually impoverished and brutalized third-world labor. Think waving good-bye to the middle class. And say hello to neo-feudalism.
How far will we let it go?
