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Swiss to vote on curbing executive pay

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Post 23 Nov 2013, 16:15
Interesting article about a referendum taking place this weekend in Switzerland on executive pay. The proposal to limit pay, if passed, would limit the salaries of top managers to no more than 12 times the wage of the lowest paid worker in the same company.

http://www.bbc.co.uk/news/business-25004132

Also, please see this New York Times opinion piece on why the Swiss are not too fond of the supperich: http://www.nytimes.com/2013/11/23/opini ... rref=&_r=0

Any thoughts on this referendum?
Post 23 Nov 2013, 16:29
It's a nice idea. But then the executives can always limit their salary and get other "bonuses" or profit from shares, etc.
Loz
Post 24 Nov 2013, 21:28
Well the initiative failed because people were afraid these limitations would make Switzerland less attractive for foreign companies.
Post 24 Nov 2013, 21:53
Loz wrote:
Well the initiative failed because people were afraid these limitations would make Switzerland less attractive for foreign companies.


Yes, I saw that today when I was looking at the day's news. Oh well, as Che Burashka mentioned, executives can receive bonuses, stock shares, and other income from sources besides their salary.

Still, I think it would have been nice to see the referendum succeed. I guess people really are afraid of upsetting capitalists for fear of losing investment.
Post 25 Nov 2013, 01:53
Bonuses would have been included.
Post 28 Nov 2013, 03:10
Swiss vote no to capping bosses' pay at 12 times lowest paid:
http://www.bbc.co.uk/news/business-25076879

Is anybody surprised that it was a complete failure? Capitalist self-regulation is a joke.
Post 28 Nov 2013, 08:52
It was a huge success actually because they achieved that for the first time ever, the general discourse on politics was about things that matter. Imagine Obama having to explain to angry voters what he's doing to fight the rich. It was delicious, really. The Young Socialists of Switzerland doubled their membership and a huge part of the population supported them.
Post 29 Nov 2013, 16:38
Mabool wrote:
It was a huge success actually because they achieved that for the first time ever, the general discourse on politics was about things that matter. Imagine Obama having to explain to angry voters what he's doing to fight the rich. It was delicious, really. The Young Socialists of Switzerland doubled their membership and a huge part of the population supported them.


This is a very good point. Just bringing these issues into the public space for legitimate discussion and action is a major step in the right direction. It is important to chip away at the mystique surrounding the rich as if they are superhumans we must constantly placate so they don't "go Galt" and leave us filthy plebs to wallow in our own incompetence.

Sadly, too many people still seem to be afraid to anger the Masters of the Universe, even if they likely know they are not worth what they are being paid. But again, this is probably a good start.
Post 07 Dec 2013, 17:32
Loz wrote:
Well the initiative failed because people were afraid these limitations would make Switzerland less attractive for foreign companies.


Absolutely spot on.

Plus, curbing executive pay has nothing to do with socialism as socialism seeks to abolish money. Why would any worker want to curb the wage of another worker, no matter how 'obscene' their pay is? Any money the capitalist class save on salaries will only be returned to the capitalist class, is that what socialists want?
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