I don’t think the point is for them to be less wealthy, the point is you shouldn’t make more than 600 times what half your employees make.
Comment on CEOs of top 100 ‘low-wage’ US firms earn $601 for every $1 by worker, report finds
pjhenry1216@kbin.social 10 months agoI'm ok with this, but it's essentially just a step toward socialism which is the better option (but will never happen). Because all this will do is make CEOs less wealthy from the company itself. The investors still make tons more than the CEOs already and they don't do anything. You need to force revenue sharing essentially which is just socialism with extra steps. Cause CEOs will just end up investing in other companies and still be wealthy and get less compensation from the company itself.
Wilibus@lemmy.world 10 months ago
pjhenry1216@kbin.social 10 months ago
I know. But investors don't care. They're the root of the problem. CEOs are simply an employee of the company that ultimately represents the shareholders interest. Affecting their pay does not affect shareholder value that much. It just commoditizes the CEO position.
solstice@lemmy.world 10 months ago
Seriously, I literally just posted the same comment basically. It’s really silly how fixated on CEOs people are. I guess they are an easy scapegoat example, but they’re just goons hired by the board of directors on behalf of the shareholders. It’s not like they straight up own the company. (Yeah yeah yeah, stock compensation, and Zuck owns 51% of FB etc i know.)
Semi-Hemi-Demigod@kbin.social 10 months ago
Exactly. Increasing pay would be really, really nice. But we can do that and have more control over our workplaces. Worker owned companies would prevent huge disparities in pay from reoccurring, regardless of what the government does.
Like a wise and angry man once said: "Fuck the G rides, I want the machines that are making them."
Franzia@lemmy.blahaj.zone 10 months ago
Socialism is the abolition of social classes. Regulating capital is usually called Social Democracy, or Marxism. Honestly, sieze the means of production.
TropicalDingdong@lemmy.world 10 months ago
I mean, it’s a pretty big step. It would basically make it such that a company has to expand it’s footprint to grow revenue.
pjhenry1216@kbin.social 10 months ago
No, for investors to grow revenue it would. Which was the whole initial concept of owning the means of production. You invest in what you thought would make money. You didn't invest because you wanted to take away employee's earned value to yourself. But that's what it came to. A majority of inflation is profit-driven related. Not government assistance related like many corporations and conservatives want you to think. Aside from that, any overt success is shared amongst everyone and no increase would be offset by normal COLA through the supply chain. People could survive and thrive without having to gut the value of employees or those in the supply chain. The only issue would be loss of business which is always a risk. But losses can be shared equally or if it's a large enough loss over a long enough time, it would require some folks to be laid off and depending on why, the employees could put the person running the business.
TropicalDingdong@lemmy.world 10 months ago
The fact that this ends up being the way that companies create more ‘shareholder value’ is a particular disease of modern neoliberalism. What you describe seems to me more similar to how companies in the US were run in the 1950s. More of a ‘rising tide lifts all ships’ approach that was used before management became antagonistic towards labor (viewing business units as ‘cost centers’ etc…). Its a particular framing that I think we can say does not guarantee any kind of result of profitability, but seems particularly enshrined in modern management culture.
aesthelete@lemmy.world 10 months ago
It’s enshrined in a management culture that has largely conquered labor through a mixture of anti-union measures and taking capitalism global so that they can pay as close to zero as possible for labor in other countries.
Sure, the products and services all suffer, but nobody really seems to give a shit about that.