Interesting article about the rising income levels of CEOs and senior executives, and the consequent decline in the earnings capability of the poor buggers at the bottom of the pile.
But what happens when there are not enough people at the bottom of the pile in Australia, for example, to buy all the products and services delivered by all these mega corporations? People need a decent stable income to buy all these expensive products and especially all the housing being thrown up. I dont think the poor bloody marginalised workers well stand by for much longer watching the housing industry geared to servicing the needs of affluent immigrants or off-shore investors.
Similarly the cost of using tool roads in Sydney will be far too high for battlers and casualized workers with no job security! There is more to managing the growth of Greater Sydney and the whole of Australia than just getting the economy working well for the “top end of town”!
A bit radical I know. But we did have a miners revolt in Ballarat when the Governor tried to ignore the poor bloody miners, and disregarded the impact of higher cost mining licences. Their comes a point when the system breaks if it is only designed to maximise economic outcomes, and ignores equity, social impact and heritage/history issues. Me thinks the NSW Govt under Bulldozer Baird suffered the backlash of applying too much of his banking background to the challenges of government and politics.