(May 27, 2014 at 6:11 pm)Bittersmart Wrote:(May 27, 2014 at 4:11 pm)Heywood Wrote: Workers are getting fucked because of automation and not because of CEO pay. There is a less of a need for workers because machines can do it better and cheaper. Less need translates into being in a weaker position to negotiate a higher wage.
They're getting fucked because CEOs are sending jobs overseas and making other bad decisions concerning workers in order to grow their bottom line.
http://www.americanprogress.org/issues/l...tsourcing/
Quote:If you took CEO pay and divided it up among the workers, it would make hardly a difference in the lives of the workers.
Yes, it would. It totally would.
http://money.cnn.com/magazines/fortune/f...ay-ratios/
Discussing this is important. It's not about instigating class warfare. CEOs directly affect the lives of millions of people and the fact that they keep getting richer while workers continue to suffer is a disturbing trend.
According to the Forbes Article, most CEOs took home 379 times the average staffers salary. Since these CEOs work for companies which typically employ 10,000 of workers dividing the CEO pay wouldn't make a big difference.
According to the Forbes article the Walmart CEO makes 17.6 million a year. According to Wikipedia Walmart employs 2.2 million world wide. If you took the Walmart CEO's pay and gave it to all the employees, each would almost get a 1 cent per hour raise(assuming a 40 hour work week) Since Walmart hires lots of part-timer...each employee might see a 2 or 3 cent per hour raise. Not enough to make a significant difference in their lives.
I have no problem with wealth redistribution. I do have a problem with monkeying with labor markets to do it.
