It's Not Just the Jobs. Q&A: It's the Jobs Machine. - WSJ.com:
Question:
AP asks: I think that CEO pay at over 400 times the salary of a worker is a job destroyer.
Answer:
"Clearly you don't believe in supply and demand.
What you are also missing and is the big question that should be in everyone's mind is:
If interest rates are so low, so many people need jobs, there are so many great ideas for products, services, etc. (read any tech or science journal; witness the commercial success of the iPad), then why aren't businesses being set up?
Likewise, rather than rant at overpaid (your judgment) executives and bankers, ask why there isn't more competition for these jobs and salaries?
Clearly government and unions and taxes are at work here - because, in other parts of the world this growth of jobs, businesses and technologies is advancing (see China, Singapore, etc.).
You may not like the effects that you see (high wage differentials), but you should be looking at causes. Why aren't more people seeking these jobs or trying to compete for them?
- Sent using Google Toolbar"
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