Tyler Cowen on Big Business, Socialism, Free Speech, and Stagnant Productivity Growth – #21
Manifold
00:00
Why CEO Pay Isn't Out of Line
"I'm not setting out to defend big business against all criticisms. I think actually a lot of the criticisms are correct," he says. "But I don't think we should defend big business per se, right? It screws up a lot." CEO pay has risen roughly in lockstep with the overall stock market and it's not based on CEOs somehow ripping off the rest of the economy,. He argues that some firms like Google or Walmart have pulled away from other firms in terms of their productivity; what we really want are more super firms, not fewer.
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