There have been innumerable charts in recent months of the assets and salaries of the top 1% vs. the other 99%. This one takes it to the next level (the top 0.1%) and more importantly is the first one I've seen that drew comparisons to other countries, which is important when you're trying to sort out the mechanisms for the phenomenon.
Source. Found at The Frustrated Teacher.
This is the 0.1%, not the 1% ... still poignant!
ReplyDeleteSo what you're saying is that on a Global Scale, all of those people camping out on Wall Street are... the 1%! My God! Someone tell them! Those evil villains are responsible for subjugating billions of people around the world! How unfair of them to have their TENTS, and TARPS, and drugs, only to deprive the rest of the world.
ReplyDelete@Brian - Huh?!
ReplyDeleteThanks, pentalith. I've fixed the title and modified the text.
ReplyDeleteThis is absolutely true, but the choice of countries for comparison makes it look more stark than it might really be. If other developed countries such as the UK were included they would "split the difference" so to speak.
ReplyDeleteSee [1].
That being said, something is clearly very very wrong when CEOs make hundreds of millions of dollars per year. There legions of highly competent (and connected)executives who would kill to break into the CEO level. Given such a supply (and the relatively small number of major corporations) the free-market should arrange a much more reasonable salary for these individuals.
The fact that it has not indicates to me that something nefarious is afoot.