2y ago

Canadian CEO pay breaks all records, reflecting a new Gilded Age for Canada’s rich

Canadian CEO pay breaks all records, reflecting a new Gilded Age for Canada’s rich: report

4 comments

In a mysterious coincidence, the other 99% are facing ever-growing struggles.
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Meanwhile, Canadians happily continue to consume products from those same CEOs instead of finding reasonable alternatives where possible. Canada's big grocery chains are absolutely robbing people blind, but instead of going to local ethnic grocers, people continue to shop at the same places that continue to rob them.
- This argument, imo, frames the problem as an individual one and shifts the burden to the individual consumer, whereas it really is a societal problem and the burden should be on economic regulators and tax laws to ensure that disparities like this are not possible in the first place. Yes the individual consumer can choose to shop at smaller competitors, but this is 1. not realistic for everyone due to geographic/economic/other reasons, and 2. ignores that fact that massive competitors have the ability to take temporary losses if it means putting the smaller competitor out of business. Not to mention that while the exorbitant CEO/worker gap is unconscionable, having systems that work well at scale is a good thing and should be encouraged.