HOORAY FOR GREEDY CEOs!….Here’s the latest from the Department of Contrariness. Attend closely:
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Highly paid CEOs tend to be those who are “entrenched” ? that is, CEOs who are relatively insulated from shareholder pressure and are hard to fire.
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Entrenched CEOs tend to pay their workers more by an average of $2,200 per year.
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Therefore, highly paid CEOs are the friend of the proletariat, not their enemy!
This comes from Stephen Bainbridge, who has more details. I don’t actually believe the causation here for a second (I suspect there’s a common cause underlying both of these effects, rather than one causing the other), but high quality contrariness is sometimes its own reward. Enjoy.
