Not only in America but in France as well, it seems that CEO compensation is beyond scandalous. Some even in the business world have warned against excessive salaries for executive officers, but their worries reflect a real ignorance of the root problem.

For example, Peter Montagnon, director of investment affairs at the Association of British Insurers said, “If we go into a major recession with job losses, but top executives are still being paid huges sums, that’s bad for the reputation of capitalism.” [The Economist, June 12th, 2008].

Thats not the issue!…it’s not about the reputation of capitalism…– this is a grand case of totally missing the point, ….but reveals how out of touch, how inhumane is the business world (and much  mainstream economics)…

 IT’S NOT THE REPUTATION OF CAPITALISM WHICH IS THE ISSUE, BUT RATHER THE HUMAN SUFFERING CAUSED BY RECESSION AND JOB LOSS, which is directly or indirectly related to this maldistribution of wealth to the top……

It indeed seems that economist and business people have removed the human element behind the statistics.