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Ceo Pay Over The Very Long Run, Kevin F. Hallock
Ceo Pay Over The Very Long Run, Kevin F. Hallock
Economics Faculty Publications
Recent work by economic historians shows people that while CEO pay has risen dramatically since the 1990s, such a trend was all but nonexistent from World War II through the mid-1970s. Imagine coming upon an article in a prestigious business publication titled "Another Decade of Deterioration in Top Executive Pay Compared to the Economy as a Whole." Its author, Arch Patton, reports data from a set of more than 400 "top managers" from 1953-1964. What is particularly startling is the size of the deterioration relative to the average. People know from piles of recent evidence that executive compensation has increased …