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Are Chief Executives Overpaid?
Deborah Hargreaves (Author)
9781509527793, Polity Press
Hardback, published 5 October 2018
140 pages
19.6 x 13 x 1.5 cm, 0.227 kg
"Nothing is so politically alienating as the way society has lost control over obscene top pay. No-one is as trenchant – and readable – as Deborah Hargreaves in her expert analysis." "In her extremely valuable book, Deborah Hargreaves demonstrates that the explosion in executive pay overwhelmingly reflects rent extraction. That is economically damaging, because performance-related pay encourages poor decision-making, and socially destructive, because it undermines the legitimacy of capitalism."
—Polly Toynbee, The Guardian
—Martin Wolf, The Financial Times
Wages for the majority have been stagnant for decades, but a lucky few have enjoyed a pay bonanza. Top company bosses take home in several days as much as most people earn in a whole year.
In this hard-hitting book, Deborah Hargreaves explains why pay for the top 0.1% has sky-rocketed in the past 20 years. She gives a devastating account of how it has created a vicious circle that destabilizes our economy and undermines social cohesion, demolishing the twisted logic of the chief executives who say: ‘I’m worth it’, when that means raking in £70m a year.
A rigorous exposé of the dysfunctional nature of our ‘winner-takes-all’ economy, this book debunks the myths behind top pay and examines a range of pragmatic solutions.
Foreword vi
1 Who Wants To Be A Millionaire? 1
2 Just Deserts? 28
3 Why Top Pay Matters 55
4 Corporate Governance Fights a Losing Battle 76
5 What Can Be Done? 95
Conclusion 124
Notes 128
Subject Areas: Economics [KC]
