Heavy Lifting - thoughts and web finds by an economist
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Thursday, February 12, 2009

Now that executives have been clipped...

the country can get down to the real business of limiting the wages of anyone else who works for a firm or entity that directly or indirectly receives taxpayer dollars. Now that the bailout/sellout plan looks to be good to go, I don't think there will be any concern that is not directly or indirectly a recipient of taxpayer dollars. The first two places to go would be academia and professional sports. In both cases the underlying entity is heavily subsidized by public dollars. At least in academia the majority of people CLAIM to be liberal (mainly with other people's money) but now the opportunity to see if they are willing to be liberal with their own money has arrived.

I suggest starting in Massachusetts where, according to this story:
The state's top earner was Derek Lovley, associate dean of UMass-Amherst's College of Natural Resources and the Environment.

Lovley, a specialist on biofuels, made $613,000, according to data made public yesterday by the state's Office of the Comptroller. He was followed by UMass Medical School Chancellor Michael F. Collins, who made $609,000.
The football and basketball coaches make a lot more than $500k, I am sure, so there are a lot of places to cut back.

Think of how simple it all is to reduce income disparity in this country. I am shocked that we haven't just reduced compensation levels by fiat before. Oh, wait, we already tried that with disastrous effect.

We have matured beyond fascism, that is a system where the government tells private property owners what they can and cannot do with their private property (think banning smoking in bars) to national socialism, that is, a system in which the government directly owns or controls what might seem like private firms (think banking bailout, car bailout, paving bailout, XYZ bailout).

Sorry Campbell, Cate, and Trey - we blew it.

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