Friday, October 14, 2011

Financial sector and widening inequality

(HT: New York State Comptroller’s Office, via Economix)

Update 1 (15/3/2012)

Times writes,

Before 1990, pay for the chief executives of financial firms were on par with those of chief executives of the largest traded companies, or even slightly lower. By 2005 the pay was roughly 250 percent bigger on average, said Ariell Reshef, a professor of economics at the University of Virginia. Broadly speaking, between 1980 and 2005, bonuses and salaries in finance increased 70 percent more than average pay elsewhere.

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