Limiting CEO pay as a multiple of average employee salary can solve most problems and make America stronger to lead the world
The U.S. Congress has scheduled a very important hearing with the ex-CEO of Merrill Lynch current CEO of Countrywide Finance. The question that cannot be answered in such hearing maximum CEO pay should be in the best national interest.
The field of economics has no satisfactory answer to this question. My rational inference decades of research is that the field of economics may have rendered only disservice to the welfare of mankind. The real culprit is the current paradigm of maximization of individuals’ wealth, used to derive economic policies. This paradigm induces or brainwashes even the smart to behave myopically and to undertake actions that are detrimental to humanity in the long run.