"I am far more worried about the political attention than I am about the CEO's pay," he says. The average CEO of a company big enough to be in standard in 4-500 was a little over $8 million a year, which is less than one third rather of what Alice Rodriguez gets for playing third base for the Yankees. "If people want that radically different system, I think they ought to come out openly and explain why that way of determining income would be better."
Thomas Sowell of Stanford University's Hoover Institution talks with EconTalk host Russ Roberts about the ideas in his new book, Economic Facts and Fallacies. He discusses the misleading nature of measured income inequality, CEO pay, why nations grow or stay poor, the role of intellectuals and experts in designing public policy, and immigration.