> I still believe capping executive pay is a necessary (though not sufficient) part of any practical solution. At least for publicly traded companies, we must cap compensation at no more than 50x minimum wage or something.
I am not sure what capping executive salaries would achieve. You'd still get the same kind of people at the top anyway - even if the top salaries were identical to that of a janitor, the fact that you have power over others is its own motivator for many people out there. Proof in point: politicians don't make outrageous amounts of money (compared to CEOs), but they are addicted to power and control just as well.
I am not sure what capping executive salaries would achieve. You'd still get the same kind of people at the top anyway - even if the top salaries were identical to that of a janitor, the fact that you have power over others is its own motivator for many people out there. Proof in point: politicians don't make outrageous amounts of money (compared to CEOs), but they are addicted to power and control just as well.