Or maybe not. GMU professor Tyler Cowen voices a contrarian view in this NYTimes piece.
Now, it can hardly be argued that every CEO is paid according to his impact on the bottom line. Some certainly are overpaid. But that’s no more a matter of public concern than if some kids get too much allowance. Lately we’ve been hearing people on the howling left arguing that high executive compensation is causing high gasoline prices, but prices wouldn’t be any different even if the CEO of Exxon were working for free.
