apfelwoiSchoppen@lemmy.world 2 weeks ago
C-Suite pay precludes equitable worker pay. They are always lying through their teeth.
The fact that CEO compensation has grown far faster than the pay of the top 0.1% of wage earners indicates that CEO compensation growth does not simply reflect a competitive race for skills (the “market for talent”) that also increases the value of highly paid professionals more generally. Rather, the growing pay differential between CEOs and top 0.1% earners suggests the growth of substantial economic rents (income not related to a corresponding growth of productivity) in CEO compensation. CEO compensation, it appears, does not reflect the greater productivity of executives but the specific power of CEOs to extract concessions.
aesthelete@lemmy.world 2 weeks ago
Totally track with the fact that the eventual destination here isn’t capitalism, it’s actually worse than that…it’s fucking neofeudalism.
They don’t want to produce a better product than the competitors, they want to extract rents from anyone unlucky enough to need to use the tools or knowledge in their fiefdom, and they want to use those rents to buy up more tools and knowledge to charge rents on.
Croquette@sh.itjust.works 2 weeks ago
I mean, rent seeking is the best case scenario for a capitalist. You just insert yourself in the supply chain without much investment and get money for simply being in the chain.
aesthelete@lemmy.world 2 weeks ago
A lot of the recent movements in company structure have been away from selling things and toward rents (i.e. away from capitalism and toward neofeudalism). That is why everything has become a subscription service (even things that you used to pay once and be able to use as is until you wanted to “upgrade” like, for instance, Adobe Photoshop). AWS is another example of this.
Doctorow explains the difference in this clip: www.youtube.com/watch?v=4-Tl6yIsCoY
Croquette@sh.itjust.works 2 weeks ago
I see the nuance you are making now and I agree.
SaaS does feel like technofeudalism where you pay but don’t own shit, a bit like fiefs working in the field and giving wheat in exchange for a land that they don’t own.