It Makes a Difference to the Sheep

"SOME FIGURES SPEAK FOR THEMSELVES" So says Amatai Etzioni referring to the following:

Chief executive pay as a multiple of employee average (as reported by pay consultants Towers Perrin in 2000):

United States 531
Brazil 57
Venezuela 54
Hong Kong 38
Britain 25
Canada 21
France 16
Germany 11
Japan 10

Ever since the AFC and Japan's never-ending recession, there have been few willing to trumpet "Asian Values" or the "East Asian model of development/capitalism" and the like with the same enthusiasm and fervor that we often heard in the 1980s and even into the mid-90s. Some of the changes in attitudes are well justified: continual emphasis on market share and capacity at the expense of productivity and profitability will, in the end, be counterproductive. Still, one can't help but wonder whether the Japanese system of corporate executive compensation is superior to the U.S. one and not only for reasons of fairness and equity. Think of how much more loyal and motivated Japanese workers might be if they truly believe that their CEOs are on the same plane (or at least the gap between management and worker isn't nearly as daunting). Food for thought.