If we go by the laws of demand and supply, a CEO should be paid far less than a labourer. Simply because everyone wants to be a CEO and therefore there is great supply. And there can only be one CEO in every company, resulting in low demand.
Based on the law of economics, a CEO should then be paid less than a labourer whose job is in great demand but lacks supply as nobody wants to do the job.
These days, data enables decision making and ideas don’t necessarily emanate only from the CEO.
Maybe economics dont work in certain scenarios? Or perhaps we should rethink a bidding system for jobs based on qualifications and ability? After all, CEOs also screw up, don’t they?
And what value does a banker add to humanity anyways? More than that of a farmer who provides us food? More than that of the garbage collector who clears our rubbish?
