Tackling the problem of executive pay: The top experts weigh in.
Table of Contents (Summer 2010)
Erin Cumberworth talks with Father Gregory Boyle, head of Homeboy Industries, about his much lauded gang intervention program – and its recent troubles. Will this venerable program be another casualty of the recession?
Critics have recently argued that the U.S. stimulus failed to turn back the recession. Gary Burtless lays out what the stimulus has and has not accomplished.
Paying for Good Behavior: Does New York City's Experiment with Conditional Cash Transfers Offer Lessons for the Safety Net in the United States?
It is unpopular to argue that the poor should be paid to engage in positive behaviors, but Gordon Berlin and James Riccio show how this radical strategy just might be working in New York City.
IS THIS EXECUTIVE PAID TOO MUCH? NEW IDEAS FOR REFORMING EXECUTIVE PAY
Lucian A. Bebchuk and Jesse M. Fried argue that executive pay exceeds its fair market level and that stockholders can rein it in only if their power is increased.
Alex Edmans and Xavier Gabaix suggest that increasing executive pay mainly reflects the real value of executives. But they also advocate for reforms that would induce executives to attend more to long-term profits and value.
Robert H. Frank concludes that even if the dramatic increase in pay can be explained by simple market dynamics, it is still corrosive to American society and should be addressed by taxing excessive pay.
Research in Brief
The surprisingly beneficial effects of teenage motherhood; an unlikely source for the increasingly positive views of gays and lesbians; the mental health of kids who "shoot for the stars"; and other cutting-edge research.
Unions have been in decline for decades. Jake Rosenfeld details the shocking extent of this decline and its inequality-increasing effects.