The Ojo Internet Mailbox
(Wherein we publish some comments about our previous issues.)
UNCOMMON COMMON SENSE – MAY 2014
Unfortunately, the pay rates for baseball players vs. doctors vs. teachers vs. social workers are apples, oranges, pears and bananas. As much as we all like fruit salad, indeed you can mix it together but each fruit retains its flavor.
The pay level of jobs must be considered within the context of its respective ‘professional segment,’ or ‘professional community.’ In a capitalist country driven by market forces, to be considered within each ‘professional community’ are: experience and educational merit; revenue type/source and liquidity; competition for talent; and, unfortunately, plain old ‘who’s your Daddy.’
All that said, the real reason that CEO pay is so high is because of the rise in the power of the mutual funds, which has allowed boards of directors to maintain cozy relations with their superstar CEOs via a ‘sky’s the limit’ compensation policy, with little interference from the average dazed-and-confused investor (a majority of us). Most public company boards of directors are stocked with wealthy individuals whose only real talent is wielding a rubber stamp, and without overseers imposing limits, pay rises beyond what is rational.
As far as sports stars go, the American public is willing to pay hundreds of dollars per game to watch them play, are willing to contribute a large share of their local taxes to build them arenas in which to play, and then gobble up the endorsed products. If no one showed up for the game in protest of high salaries, or they forbade the tax bonds used to pay for the arenas (and instead insisted on the bond money going to schools), things would change.
Surely, we need a correction on the minimum wage in the USA, because recent history has shown that market forces do not support the standard of living that anyone would want for a fellow American … without a minimum wage, the poor would be exploited within their poverty just as easily at $3.00 and hour as they can at $7.50. But otherwise, I fear that we’re stuck with the high pay rates until there is some committed civic action on the matter, within the ‘professional community’ (for the underpaid), and with those who access it as a client (for the overpaid). Seems that the responsibility of a democracy strikes again!
A BRIEF HISTORY OF JEWS IN MEXICO
Loved this article! Thank you.
I am writing a historical novel about the Inquisition in Mexico and when it ended. Some dispute the 1834 date b/c renegade priests kept it going decades longer. Do you know anything about this?
My novel, THE BLIND EYE–A Sephardic Journey, a 1st prize winner, deals with this topic. I have been touring with the Jewish Book Council speaking about hidden Jews.
I appreciate your time.