That is the idealistic argument in favor of CEO pay, how it ‘ought to work’ — yet, we see a radical rise in the ratio between the wages of the average worker and the average boss, at all levels of organization, and across industries. CEOs simply were not paid as much in the 1950s as they are today — have CEOs become proportionately more valuable, in that time? If not, then the rise in CEO take-home is parasitism, not meritocracy.

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