Monday, May 02, 2016

Nice Work

Economists are very good at fretting over whether a minimum wage of $9 per hour will destroy the economy, but for some reason don't spend much time fretting about what it means when our corporate overlords - the most important people on the planet - basically have an incentive structure which is "heads I get rich, tails I get rich." The golden parachute is nothing new, of course, but it is absurd. Mayer gets more attention than she should because of her gender and relative youth, but nevertheless, what's the point of trying to win the game if you win no matter what?