From today's LA Times. Hat-tip to Danny Postel. The cover story in our Nov/Dec issue, Have the Rich Won?, makes a similar argument.
Bringing overpaid executives to heel
Power, not productivity, determines earnings. That's why new laws are needed to check the unfair distribution of the fruits of workers' labors.
Moshe Adler teaches economics at Columbia University and is the author of "Economics for the Rest of Us: Debunking the Science That Makes Life Dismal."
Read the original article.