Occupy Wall Street

 Posted by at 20:52  economy, Politics
Oct 032011
 

Somebody asked me a few days ago for my views on the Occupy Wall Street movement that is now sweeping the country. I don’t think I could do a better job of covering it any better than the multitude of bloggers that already are — and, besides, some of them are actually physically involved — so I’ll just express my view in two words:

Long overdue.

Read: “Cozy relationships and ‘peer benchmarking’ send CEOs’ pay soaring.”

The gap between what workers and top executives make helps explain why income inequality in the United States is reaching levels unseen since the Great Depression.

Since the 1970s, median pay for executives at the nation’s largest companies has more than quadrupled, even after adjusting for inflation, according to researchers. Over the same period, pay for a typical non-supervisory worker has dropped more than 10 percent, according to Bureau of Labor statistics.