Have government payroll controls at companies which accepted bailout funds solved any problem, apart from drawing attention from Washington’s inability to do anything correctly to resolve deep recession and job problems?
When you hire and attempt to keep personnel, you pay market labor prices. Or you get inefficiency, with the best employees leaving for other opportunities.
Executive earnings were never a factor in past financial meltdown. They were insignificant numbers, relative to overall financial problems. Executives now are consistently scapegoats for ignorant and crowd-pleasing politicians.
Only politicians have 20/20 hindsight, to tell executives they are making too much money. How about actors and ball players? And reporters? Are they next?
Many in the media are not conversant with how such controls are an integral part of state capitalism, such as the type fascists operated in Italy, Germany and Spain in the 1930s. They started out meddling with business the same way left-leaning politicos in the U. S. are today. The media is not concerned about the slippery slope. (See the Earl J Weinreb NewsHole® comments.)
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