Plutocracy is a global phenomenon. It is worldwide, and it integrates fully religious extremism, which is part of its arsenal. The corporate board of Renault-Nissan is made of CEOs of other corporations. The board decided that Carlos Goshn, its CEO, deserved 15 million euros in 2016. Never mind that 54% of the shareholders voted against it. Never mind that the French government, which holds 16% of the shares of Renault-Nissan was outraged by it. In this world, CEO boards and their CEOs are a church of their own, ruling the world.
CEOs and their boards argue they are exceptional, irreplaceable, and they could get a job somewhere else. However, many in France dare to now point out that if such is the case, they should be fired, go get their job somewhere else, and that many in France are trained, willing and capable of replacing them and playing CEO for much less money.
(For exploding up corporate profits, consult my “Doomed Dems“, and the Federal Reserve Economic Data graphs therein. Confronted to catastrophic, anti-democratic evolutions under their reigns, the Clinton-Obama crowd of “leaders” and “advisers” and sycophants, always accuse the Republicans. If “Republicans” are always in charge when “Democrats” rule, why to vote for the latter?)
Extravagant CEO salaries convey the mood that extravagant inequality should rule the world. That the world cannot function without extravagant, horrid inequality.
In truth CEOs are not as important as engineers. In France, a musician and engineer found a way to 3D PRINT a violin similar in sonic quality to the proverbial “Stradivarius”. The 3D printed violin is lighter, stronger, and is made in one part, so it does not have parasitic sound generated by the junctions between different parts (as in traditionally made violins).
Meanwhile in California, in a university lab, after years of trying, a researcher and her colleagues found a way to coat the nanowires used in Lithium batteries, which allows said batteries to cycles 200,000 times before a diminution of function (something which happens after 7,000 cycles in existing batteries.)
Also in California, a French professor (now in Berlin) and her UC Berkeley colleague found a revolutionary gene selecting technique.
Such individuals are the real creators. They are the hard-to-replace persons. They are also the sort of people, inventors, creators, thinkers, we need, as the biosphere threatens to go up in smoke.
Extravagantly high CEO pay not a question of “capitalism”, or “offer and demand”: in the graph above one can see that CEOs used to paid much less, relative to the average workers. And it was the same for all celebrities, including in sports and acting. Still “capitalism” was doing just fine. Actually, private capitalism was then a larger part of the economy.
Thus the rise of the mood conducive to high CEO, and other celebrities’ salaries has nothing to do with the “invisible hand” of the market. Instead, the mood of high CEO salaries is synchronous with the rise of plutocracy (lower taxes on the richest, maximal tax avoidance enabled for the richest, influence of the richest on politics, etc.).
So what is going on?
Moods make the ground from which ideas grow. Outrageous salaries for boards and CEOs make the mood more favorable to plutocrats.
An example: nowadays, major plutocrats like the kings of Saudi Arabia and Morocco, or the Sultan of Turkey, finance ideologies in countries such as Belgium. More precisely, those plutocrats finance the ideology known as Salafist Islam (which is supposed to strangle Islam, the way it used to be in Belgium, for generations, namely low key, Belgian state financed, Sufist).
Thus one sees that the rise of Islamism is actually related to the rise of CEO salaries. And this ties up to “climate denial”, as major plutocrats and their corporations support the latter. Facing the plutocratic phenomenon, one is confronted to a high dimensional metastasis of the soul. Celebritism and CEO salaries are part of it. No wonder that it is hard to treat, and beat back plutocracy: acting punctually here, or there, displaces the problem, instead of treating it.
One speaks of globalization. Left unsaid is that this is globalization of evil.