Saturday, 22 September 2007

is this obscene, or what?

A few months back, I commented on the wealth imbalance between different countries. Recently I came across statistics on the ratio of salary of the CEO of companies to the average worker in that company.

The figures show that in 1965, CEO's were paid 24 times what the average worker earned. By 1989, the ratio had risen to 71. The disparity grew even faster in the 1990's, peaking at a massive 300 times in 2000 before a stock market fall reduced the ratio to 143 in 2002. But it is rising again, reaching 262 in 2005.

Thus, CEOs are paid more in one day than their workers earn in a year!

It is hard to believe that anyone can usefully use this much money, and even harder to accept that it reflects true human worth. Communism has been shown to be oppressive and not to work, but surely capitalism is showing itself to be oppressive too, only in a slightly subtler way.

1 comment:

Note: only a member of this blog may post a comment.