Reply #74: Actually that's market failure [View All]

[HamdenRice]

While I generally agree some people's work is worth $1 million, your example of CEOs is not a good one.

It is pretty universally accepted in the business press and academic business circles that something is seriously wrong with executive compensation, because executives are actually paying themselves. They dominate the compensation committees, and there is no outside review. Therefore, their pay has no relation to company performance, and many shareholders and institutional investors -- the people who actually pay them -- are furious.