executive pay

Carl Remick cremick at rlmnet.com
Mon Aug 3 09:51:26 PDT 1998


Re Jessica's observation: "I don't believe there is no class consciousness; in fact I think class consicousness is growing."

I don't know whether this squares with the idea of rising class conciousness, per se, but there certainly is rising envy and resentment about windfall gains in today's casino economy, even among winners. See today's Wall Street Journal (headline and subheds): "Amid Economic Boom, Many of the 'Haves' Envy the 'Have Mores' -- They Know They're Well Off, But Can't Help Coveting Neighbors' Big Bonanzas -- 'Where's the Justice in This?'"

Carl Remick

-----Original Message----- From: Jessica [mailto:nsnerep at nscad.ns.ca] Sent: Monday, August 03, 1998 2:20 PM To: lbo-talk at lists.panix.com Subject: Re: executive pay

Paul Wight wrote:

<snip>
> The trouble with having a go at greedy management in the current
context is
> that without seeing class, the management looks just like you, only a
bit
> better off on a sliding scale, and impossible to draw a social
distinction.
> In fact the management have successfully passed themselves off these
days as
> just another employee like anyone else. Better paid maybe, but
subject to
> stress and sacking etc just the same.
> In this situation, them getting big pay rises does create tension. In
the
> past it would have just looked like executives acting like
executives.
> In the absence of class (awareness) then, having a go at greedy bosses
isn't
> useful, since if they have to restrain themselves, so of course do
you.
> It's also why James is right about the executives own outlook on it,
why
> they feel defensive about getting the pay rises. They don't even see
their
> own position. It's not only the working class that has declined.
> I don't feel like cheering when they get a pay rise of course, but at
least
> it gives me the opportunity to say, 'OK then, where's mine?' That's
a
> slightly different proposition (and more useful I submit) to having a
go at
> them getting it in the first place.

You seem to be saying that there is no more class consciousness, and therefore to prevent bosses from getting lots of money to begin with means they should be able, in the minds of those not class-conscious, to refuse wage increases for the same reason.

I don't believe there is no class consciousness; in fact I think calss consicousness is growing. It's pretty much impossible to prove empirically, but the continuing and increasing use of class warfare jargon - even simply the resurgence of the idea of class - in mainstream media, etertainment, even right-wing economic jounals, as well as the resurgence of the integration of "class issues" into struggles against racism, sexism, homophobia etc. Seems to tell the stroy pretty well anecdotally.

Secondly, "OK then - where's mine" and "Wait a sec - you already make enough, and I don't" both come from the same awareness: I have no money, and he's got lots because he doesn't want to give it to me. That's pretty good class consciousness, if you ask me. It's at least a start

Jess



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