Quote (Voyaging @ Apr 13 2017 12:50pm)
The numbers are referring to like the top ~500 companies or something iirc.
Yep top 200 or 500 is typically used to get figures like that.
They discuss that a bit in that link I posted.
Quote
According to the US Census, there are more than 27 million private firms in the US, so the 200 firms reported by USAToday represent only one of every 135,000 private firms in the US, or 0.00074% (less than 1/1000 of 1%). Note also that USAToday compares the annual wages of ALL full-time employees working at more than 27 million companies to the CEO pay of executives at only 200 companies.
..
The 200 S&P500 firms reported by USAToday represent only one out of every 1,243 firms in the country that have a CEO at the head, and that small sample of 200 would represent only 0.08% of American CEOs, or less than one-tenth of one percent of all CEOs. The larger sample of CEOs reported by the BLS gives us a much better understanding of “average CEO compensation.”
Rather than gazillions being the typical CEO pay, those millions are the pay of CEOs at the most extremely successful businesses on the planet and are the outlier.
Is this a bizarre coincidence in the Sylvannos-Marxian view?
Its also worth noting that the status quo is not free market capitalism.
(Some companies have been the beneficiaries of massive government subsidies and protectionism that rewards them despite poor business practices[failing banks w/ huge CEO pay] or blocks out their competition.)
This post was edited by cambovenzi on Apr 13 2017 11:14am