An interesting image of dubious accuracy that has popped up many times in my facebook feed the last week. The origin might be here, but a website with a domain name like that might not be the best source for statistics.
Some may cluck their tongues at America’s unfettered capitalism but it’s really a result of corporatism that the ratio is so drastic. Instead of the mass of consumers deciding who wins and loses, CEOs that win the auction for regulatory power would naturally reap the monetary benefits that they would have to actually work for otherwise.
In a truly free market, America’s ratio listed here would actually indicate a healthy division of labor. It would mean the poorest of the poor are entering the market and driving that ratio further apart. With something as simple as minimum wage laws in place this would never happen, and so the poorest (usually teenagers) find it harder to secure employment.
Don’t expect this to be remedied soon, or rather, don’t expect the reasons for the ratio to change anytime soon. Increased regulation is a sexy prospect for some voters and politicians love the job security.