Tuesday 23 August 2022

From Top To Bottom

There is going to be civil unrest in the very near future, but it is not going to have been encouraged by Owen Jones in The Guardian. He wishes. You see, he has still never got over his demotion to warm-up man in the summer in 2015.

FTSE 100 CEOs have median remuneration of £3.4 million. There can be no sense of common citizenship in a society like that. That would be true even in better times for the rest of us.

By Statute, nothing should be permitted to pay any employee more than 10 times what it paid any other employee. That is quite liberal; that noted Maoist, Aristotle, wanted no one to be three times richer than anyone else. Three.

Under that, shareholders should have control over executive pay. How has that ever not been the case, since it is their money?

And free from the EU's State Aid rules, the British State, with the power to issue to itself as much as it pleased of its own free-floating fiat currency, should buy a stake in every FTSE 500 company. 

That stake should be large enough to secure Board-level representation, for the exercise of which the Chancellor of the Exchequer would be accountable to the House of Commons.

After any investment in public services, then the dividends would be distributed equally to everyone, through the same infrastructure that paid the Universal Basic Income.

Indeed, corporations' level of dependence on the in-work benefit system already blows out of the water the suggestion that they are not answerable to the representatives of the State, as such.