By Lynn Parramore (originally published by The Huffington Post) - Over the last several decades, American business executives have made decisions that have exacerbated the inequality that chokes prosperity for the country. They have misallocated resources and they have awarded themselves mind-boggling compensation packages while workers have suffered stagnant wages and increasing job insecurity. The stats are shocking: In 1965, a typical CEO took in about 20 times what an average employee earned, while the latest figures from the AFL-CIO put current CEO pay at 373 times what the average worker makes. (Amazingly, according to a forthcoming paper for the Institute for New Economic Thinking (INET) by Matt Hopkins and William Lazonick, even that ratio is grossly underestimated because it is based on grant-date fair value estimates of what stock options and stock awards might be worth, rather than how much CEOs actually take home when they exercise stock options and when stock awards vest)….
[Cross-posted from The Huffington Post blog of July 8, 2016 at https://www.huffingtonpost.com/lynn-parramore/how-mba-programs-drive-in_b_10884664.html]
The Huffington Post article reprinted in many newspapers including Truthout at http://www.truth-out.org/news/item/36768-how-mba-programs-drive-inequality; RT America broadcast at https://www.youtube.com/watch?v=OYtdK3JWQSI