Fortune's Dominic Basulto thinks CEOs need to be made more:
In fact, there?s strong evidence that, far from being paid too much, many CEOs are paid too little. Not only do the top managers of multibillion- dollar corporations earn less than basketball players (LeBron James of the Cleveland Cavaliers makes $26 million), they are also outpaced in compensation by financial impresarios at hedge funds, private equity firms, and investment banks. Should we care? Yes. If other positions pay far more, then the best and the brightest minds will be drawn away from running major businesses to pursuits that may not be as socially useful?if not to the basketball court, then to money management.
Of course, "if other positions pay far more, then the best and the brightest minds [also] will be drawn away from" law teaching, which means I guess I need a raise too. (HT: Kirkendall)
