Deborah Hargreaves

Deborah Hargreaves

Pay Inequality and the Future of Capitalism

Economics/
Thu 21 November 2019

Deborah Hargreaves

Pay Inequality and the Future of Capitalism

Deborah Hargreaves
Thu 21 November 2019,

Wages for the majority have been stagnant for decades, but a lucky few have enjoyed a pay bonanza. Top company bosses take home in several days as much as most people earn in a whole year. Deborah Hargreaves explains why pay for the top 0.1% has sky-rocketed in the past 20 years. She gives a devastating account of how it has created a vicious circle that destabilises our economy and undermines social cohesion, demolishing the twisted logic of the chief executives who say: ‘I’m worth it’, when that means receiving multi-million pound pay cheques annually.

Polly Toynbee said: ‘Nothing is so politically alienating as the way society has lost control over obscene top pay. No-one is as trenchant – and readable – as Deborah Hargreaves in her expert analysis’ and Martin Wolf called her book Are Chief Executives Overpaid? ‘extremely valuable’: Hargreaves ‘demonstrates that the explosion in executive pay overwhelmingly reflects rent extraction. That is economically damaging, because performance-related pay encourages poor decision-making, and socially destructive, because it undermines the legitimacy of capitalism.’

Bristol Festival of Economics is presented in association with

Triodos Bank

Share this/