Maximum wage legislation
In testimony before the Rhode Island state legislature, Econ4’s Doug Smith lays out the rationale for capping the maximum annual compensation a firm pays its CEO – based on what it pays its lowest-paid workers:
This dangerous rise in top-to-bottom pay ratios fuels a cancerous spread of business strategies obsessed with cost reductions and short-term financial performance. The result: outsourcing, offshoring, tax avoidance, downsizing, and the substitution of good-paying permanent jobs with temporary, precarious employment.
Read his New York Times op-ed piece on maximum wages for government officials and top-paid government contractors here.
Maximum wage?
Econ4’s Doug Smith writes in the New York Times:
The national discourse continues to sleepwalk past this out-of-the-box question: How about setting a maximum wage for government officials and top-paid government contractors?
Read his op-ed piece here.
