If the concern is that pay at the top is too high then the obvious solution is simply to have a maximum pay rate.
This won\’t affect lower paid workers in any manner: companies are already, clearly and obviously, paying sufficient to attract the staff they desire. A brief glance at the unemployment rate shows that. The losers would be those at the top who no longer get that exorbitant top peoples\’ pay.
The side effects would be interesting as well. For where would the money saved on that top pay go? Not to customers of course: companies price on demand, not their cost base. Not to the lower paid workers as above. Clearly, that saved money would go to profits and thus to shareholders.
Which is really most interesting, don\’t you think? Any attempt, for a maximum wage is only a method of illustrating this point: any form of reducing top peoples\’ pay will have the same effects, to reduce what people can earn from their labour must inevitably increase the returns to capital. A result to be devoutly desired of course but perhaps not what you guys might desire.
There is a certain amusement at Compass, of all people, setting up a Commission working on how to make the world safe for capitalists.
They might as well shut up shop now, eh?