Labour report on executive pay proposes giving customers a vote on compensation, ending share-based compensation for execs

[doctorow]

Originally published at: https://boingboing.net/2018/11/28/austerity-drives-oligarchy.html

…

[knoxblox]

This sounds more fair, but I’d still be worried about an exec who knows how to manipulate the cult of personality.

[Bonivus_elderheart]

Oh hey, the UK is catching up to the US in terms of the gap between executive pay and worker pay.

[bluehenbear]

Imagine if PG&E customers in CA had a say in executive compensation…

or Comcast for that matter.

[wait_really]

I wonder if/how quickly corporate inversions/tax-wedding style offshoring kicks off with this type of legislation…

[L0ki]

@doctorow

Ten years of austerity in the UK have produced a definitive answer to the question: does austerity drive economic growth? (Spoiler: No)

The past decade has seen the UK dead last in advanced economies for wage growth – the weakest decade for employee pay since the 19th Century! – while executive pay has grown and grown, with the average CEO:worker pay ratio topping 1:150 (it was 1:20 in the 1980s).

I’m confused. Executive pay is going up - clearly all those companies are making vast amounts of money and thus economic growth is stratospheric.

Only partially sarcastic since I’m pretty sure that is exactly what the Conservative response will boil down to once you strip out the empty concern about ‘hard-working families’.