The financialized U.S. economy

WallStIncomeVsRest-1x-1

Wall Street is still doing much better than Main Street.  And while salaries for financial sector workers are leveling off, the salaries and bonuses of Wall Street CEOs are still rising.

A Fortune magazine writer reported that average Wall Street CEO compensation rose nearly 10 percent last year, while the wages of average American workers rose only 1.6 percent.

Healthy and honest financial markets are necessary for a free enterprise capitalist economy, but I don’t see any justifiable reason why Wall Street should prosper while the rest of the country doesn’t.

LINKS

Wall Street Wages Double in 25 Years as Everyone Else’s Languish by Jennifer Surane for Bloomberg News.

The Only Thing Up on Wall Street is CEO Pay by Stephen Gandel for Fortune.

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