Take a few minutes to watch the following video. It is a very interesting and surprisingly dramatic representation of the wealth distribution of the United States of America.
A few weeks ago, my mother and I were discussing the Royal Bank of Canada, as we are customers and are also shareholders. As such, we received the Annual Report, which she perused, and then stopped, shocked by the numbers. The president of RBC has an annual salary of $1.5 million, and with added bonuses, earns approximately $13.8 million per annum! We proceeded to have a long discussion about the validity of that number in regards to the amount of work and perceived knowledge contribution that he invests as the president. Does he really deserve to earn that amount of money? Couldn’t the bonuses be less and still be competitive enough to attract high-quality candidates for that job?
Then this past week, the EU voted to cap banker bonuses at twice their salary!
Read more at these links:
And today, I read a blog post by an orphan advocate, encouraging us to think about justice as children often do.
“What would happen if we compared our won luxurious lifestyles to the needs of others? Maybe things would look different if we looked at the injustice of the world and said “that’s not fair”…” – Chelsea Pearce
Read the rest of the post at http://youwillgooutwithjoy.blogspot.ca/2013/03/thats-not-fair.html.
Do you have any ideas or concerns about this? What do you think should be done, if anything, about the large salaries and bonuses at the top of the pyramid?
4/3/2013 08:12:40 am
It is unthinkable that this kind of inequity is entrenched in our world. What if this were further compared to world incomes? Even the poorest in America are rich in comparison. Surely one year of such an outrageously extravagant income would be enough for a lifetime! All future earnings could be wholly given away. Each year might rescue an entire small nation!!
I don't think wealth distribution is going to change until behaviour does. Behaviour won't change until there is a reason to. Perhaps, one way to change this behaviour would be through shame. People should be embarrassed to earn millions while their neighbours struggle to afford groceries or own a 10 000 square foot home for one person.
Shame is an interesting concept to apply here. I think that if it were public shaming and pressure, it would most likely fail, and only succeed in angering both sides of the conflict. However, if the people who earn these whopping amounts of money were to meet and get to know people from the drastically different end of the spectrum, that may work. I think education could create a feeling of shame without the pressure. Thanks for joining in Darrelle!
6/3/2013 07:58:56 am
Big businesses and those at the top of the pyramid need accountability. I think in part we are to blame for letting them get away with this. I think media can play a huge part here - somewhat along with what Darrelle said about shame, to some extent that can work. At least make them realize that there are people that are NOT ok with their salaries because of the injustices they support.
Thanks for chiming in, Bailey - I think media could play a big role in this, however, I don't often feel that media is a fan of criticizing income levels of the big players. I think most of the time, media is celebrating big incomes and it is more of a contest of who can make the most. However, the building grassroots movement of people similar to ourselves may help sway the media's portrayal of this.
12/3/2013 10:14:44 am
I major issue here lies in the politics behind the distribution. I think Churchill has it right [to an extent] when he said "It has been said that democracy is the worst form of government except all the others that have been tried.” Fundamentally, democracy as a form of government has been morphed into something that does not really resemble its roots of "governed byt he people." Instead, either out if necessity or greed, we see governments and politicians who are forced to give way to big business because they are the people who fund their election platform.
13/3/2013 07:29:10 am
I just heard on the news today that Air Canada is being forced by the Canadian government to cap salaries and bonuses of top executives in order to beef up the employee pension fund. That sounds like it is moving things in a better direction.
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Welcome! My name is Katiana and I am a development professional pursuing my dream to live out Isaiah 1:17 to the best of my abilities. I am passionate about teaching and working with vulnerable families and children to improve their lives sustainably.
This blog is composed of my personal opinions, which do not necessarily reflect the opinion or views of institutions or organizations that I may be or have been affiliated with.