The median pay for the top 100 highest-paid CEOs at America’s publicly traded companies was a handsome $13.9 million in 2013. That’s a 9 percent increase from the previous year, according to a new Equilar pay study for The New York Times.Krugman assures us it will get worse. I suppose, with so many local police departments sporting military-style weapons in the streets of cities and towns large and small, the possibility of stopping the onset of oligarchy by threatening a citizen revolt is just about nil. Have a nice day!
These types of jumps in executive compensation may have more of an effect on our widening income inequality than previously thought. A new book that’s the talk of academia and the media, Capital in the Twenty-First Century by Thomas Piketty, a 42-year-old who teaches at the Paris School of Economics, shows that two-thirds of America’s increase in income inequality over the past four decades is the result of steep raises given to the country’s highest earners.
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ADDENDUM: while we're speaking of Krugman, here at CUNY TV at the Graduate Center is a splendid hour with Paul Krugman and... fanfare, please... Sen. Elizabeth Warren (D-MA). If the Moyers-Krugman interview above saddened you, angered you or scared you, this one will help restore your reasonable hope for our society.
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