Ageism and Director's Pay
Two of the editorials in the guardian yesterday seemed appropriate, given the second topic in the newsletter.
First, for obvious reasons, the editorial on ageism: typically you may say, for the guardian, they say they don’t go far enough. They make some interesting points though.Secondly, they made a big hoo-ha about director’s pay yesterday. And it struck me that it’s no good arguing for fairness in the employment market, without addressing this key issue. Averaging 28%, the increase in directors pay is farcical (inflation is at 2.5%, average earnings at 3.7%). Success in the boardroom deserves reward, but when these massive gains are seen of what some see as failing companies, how long can this go on? As the Guardian says:
There is a morality to the principle that work should bring a fair but not excessive reward: but it is a principle that Britain’s elite appear happy to apply to everyone apart from themselves