For my purposes this toon is accurate in the disparity between CEO’s and almost anyone else in a company. To my knowledge unions have suffered downsizing type unemployment but rarely wage decreases. Obviously there are a few exceptions. Unstated is the stagnation of wage growth (not applicable to unions) in the working classes in general in the last 30 years. The private sector unions are currently 7% and declining and the municipal unions are under pressure because there are so many states and cities that are almost bankrupt trying to fund benefits and pensions. FDR, as big a supporter of unions as he was, said he thought unionization of the public sector was a bad idea.
We have embraced cheaper products from 3rd world countries and it has pretty well denigrated the manufacturing sector of our economy (now 9% and shrinking). The wage disparity alone has made it almost impossible for American manufacturers to compete. We don’t even have the infrastructure any longer to significantly increase manufacturing capacity. I also think this has a lot to do with the wage pressure on the middle class.
IMO trying to legislate these changes (CEO’s salaries) is a huge mistake. If you don’t like a companies compensation policies, quit buying their products.Boycotts work wonders on Board of Directors management compensation decisions. Obviously we have lots of complex problems facing the country, I just hope Washington can put our interests ahead of their politics.
Stuart Carlson and Jerry Resler