Categories
Politics Society

Nine Point Nine

You see, when educated people with excellent credentials band together to advance their collective interest, it’s all part of serving the public good by ensuring a high quality of service, establishing fair working conditions, and giving merit its due. That’s why we do it through “associations,” and with the assistance of fellow professionals wearing white shoes. When working-class people do it — through unions — it’s a violation of the sacred principles of the free market. It’s thuggish and anti-modern. Imagine if workers hired consultants and “compensation committees,” consisting of their peers at other companies, to recommend how much they should be paid. The result would be — well, we know what it would be, because that’s what CEOs do.

There is a page in the book of American political thought — Grandfather knew it by heart — that says we must choose between government and freedom. But if you read it twice, you’ll see that what it really offers is a choice between government you can see and government you can’t. Aristocrats always prefer the invisible kind of government. It leaves them free to exercise their privileges. We in the 9.9 percent have mastered the art of getting the government to work for us even while complaining loudly that it’s working for those other people.

The source of the trouble, considered more deeply, is that we have traded rights for privileges. We’re willing to strip everyone, including ourselves, of the universal right to a good education, adequate health care, adequate representation in the workplace, genuinely equal opportunities, because we think we can win the game. But who, really, in the end, is going to win this slippery game of escalating privileges?

The Atlantic: The 9.9 Percent Is the New American Aristocracy

Categories
Economics

CE000,000s

CEO pay is up about 44 percent since 2007 in nominal terms, and up about 38 percent when you account for inflation. For ordinary workers, pay has decreased 5 percent since 2007 when you account for inflation.

CEO Pay Down in 2015, But Still Higher Than Its Bubble Heights

Categories
Politics

How the South Skews America – Michael Lind – POLITICO Magazine

In practice, however, much of what sets the United States apart from other countries today is actually Southern exceptionalism. The United States would be much less exceptional in general, and in particular more like other English-speaking democracies such as Britain, Canada, Australia and New Zealand were it not for the effects on U.S. politics and culture of the American South.

I don’t mean this in a good way. A lot of the traits that make the United States exceptional these days are undesirable, like higher violence and less social mobility. Many of these differences can be attributed largely to the South.

How the South Skews America – Michael Lind – POLITICO Magazine

I saw a woman at Dallas-Fort Worth International yesterday wearing a shirt with the outline of Texas and the word “Secede” on it.

Categories
Politics

Free Market Welfare

Nearly three-quarters of the people helped by programs geared to the poor are members of a family headed by a worker, according to a new study by the Berkeley Center for Labor Research and Education at the University of California. As a result, taxpayers are providing not only support to the poor but also, in effect, a huge subsidy for employers of low-wage workers, from giants like McDonald's and Walmart to mom-and-pop businesses.

Working, but Needing Public Assistance Anyway

Few things anger me as much as wildly profitable corporations pushing their costs onto taxpayers, then using the savings to lobby against things like minimum wage increases and unionization efforts.

Categories
Elsewhere

Drivers Ed

As communities are heading back to school, we’d like to take a moment to celebrate the educators who are also our Uber partner drivers.

Uber Optics – The Awl

This is what we’ve built for ourselves in the wealthiest country on earth with some of the most advanced technology.

Categories
Misc. Politics

The Deserving Few

An analysis of compensation data publicly released by Equilar shows little correlation between CEO pay and company performance. Equilar ranked the salaries of 200 highly paid CEOs. When compared to metrics such as revenue, profitability, and stock return, the scattering of data looks pretty random, as though performance doesn't matter. The comparison makes it look as if there is zero relationship between pay and performance.

Eric Chemi and Ariana Giorgi: The Pay-for-Performance Myth

Love the trend line.