Recently, he spoke with author Tom Bergin about the problem with CEOs acting like shareholders.
A 2021 study found that typical CEO compensation has risen 1,322% since 1978, while worker compensation over that same time only increased by 18%.
The problem with CEOs behaving as shareholdersThe National Bureau of Economic Research reports that in 1980, stock options were rarely included in CEO compensation.
When they were a part of the compensation package, average stock options rarely made up even 20% of the total direct pay for CEOs.
But today, according to Lawrence Mischel from the Economic Policy Institute, "Stock-related compensation comprises around 85% of CEO compensation."