"Have an idea! Don't come in here with half a thing and not be able to... after you've walked me to the brink. And say, 'We've gotta do this. It's important though I have no earthly idea how.'" - Toby Zielgler, The West Wing (https://youtu.be/YKSTkLWjuyo)
Robert Riech makes good points but provides zero ideas how to solve them. Relying on the goodness of CEO's hearts isn't going to cut it. That won't help enough people. How do we incentivize the behavior of employee ownership? Right now the incentives are aligned against that, as Reich seems to make clear. He seems to be advocating against more "radical" approaches advocated by Bernie Sanders because there is this glimmer of hope some CEOs will be nicer. It seems like this article makes the point that structural changes are necessary but the author falls short of that conclusion and instead gives glowing praise to a single CEO in hopes it will inspire a few others. It might, but that won't help much.
The answer is easy, just cap CEO pay. Execs can only earn 25X the average salary of employees incl benefits. That multiplier goes up 1x per 1000 employees or whatever is fair there could be a different algorithm but something along those lines. But there's a measurable way to raise the CEO's pay: Hire more employees, and/or raise wages. -- Along these same lines Congress should also be capped at the average American yearly income + benefits = to average American's. -- Why should they get anything better than the rest of us?
Robert Riech makes good points but provides zero ideas how to solve them. Relying on the goodness of CEO's hearts isn't going to cut it. That won't help enough people. How do we incentivize the behavior of employee ownership? Right now the incentives are aligned against that, as Reich seems to make clear. He seems to be advocating against more "radical" approaches advocated by Bernie Sanders because there is this glimmer of hope some CEOs will be nicer. It seems like this article makes the point that structural changes are necessary but the author falls short of that conclusion and instead gives glowing praise to a single CEO in hopes it will inspire a few others. It might, but that won't help much.