The Executive and the Cross<\/a>,\u201d refers to the extravagant amounts of money given also to entertainers and sports stars.\u00a0 I\u2019m glad this was added, since it was something I intended to mention but forgot.\u00a0 If I should criticize John Thain for making $83M in a single year, should I condemn Tiger Woods for making a similar amount?<\/p>\nAs explained in the article, it is essentially we<\/em> who are the market.\u00a0 At least in most cases, the amount of money a person is paid is a reflection of the value that we <\/em>place upon that person\u2019s products or services.\u00a0 If we did not care about movies or golf, Jack Nicholson and Tiger Woods would not be rewarded so lavishly for how well each performs at what he does.\u00a0 Similarly, if we did not care about getting the highest possible return on our investments, then we (through \u2018the market\u2019) would not give so much money to executives.\u00a0 So, as with business executives, the \u201ccompensation\u201d given to entertainers and sports stars does illustrate our misplaced priorities, and to that extent it constitutes a sort of judgment upon our society.\u00a0 If we really valued good teachers as much as we claim to, then good teachers would be paid more\u2013and, in areas where educated is highly valued, there are usually an abundance of private schools who pay much more to get teachers of top quality.<\/p>\n![\"\"](\"https:\/\/farm4.static.flickr.com\/3397\/3518426486_324c15d09a.jpg?v=0\")
<\/p>\n
The reason why executive compensation is especially important is because of the effect that it has upon the economy as a whole and upon particular companies.\u00a0 I have to agree with D. Michael Lindsay that \u201ctrust is the engine of the market,\u201d and the rewarding of lavish compensation packages to executives is undermining the public\u2019s trust in the American market.\u00a0 Furthermore, as argued in the article, extravagant executive pay may actually harm the company the executive leads insofar as it complicates the executive\u2019s character and incentives.<\/p>\n
That said, I am a philosopher and not an economic.\u00a0 I fully admit this.\u00a0 I am not writing on these subjects because of any special expertise.\u00a0 I am writing because I strongly believe that Christian executives can lead the way and present a real testimony here.\u00a0 As Lindsay wrote in Faith in the Halls of Power<\/em>, excessive compensation not only undermines trust but also \u201cundermines [evangelicals\u2019] ability to frame business as a moral activity, which is critical to expanding evangelical influence in the business sector.\u201d<\/p>\nWhere \u201cexecutive compensation seems like an area where evangelical executives could distinguish themselves from their secular peers,\u201d few do so.\u00a0 Max De Pree, CEO of Herman Miller, would take no more than a 20:1 ratio on his (or any executive\u2019s) salary over the average at the company.\u00a0 De Pree called it a decision that \u201ccould and should be informed by my faith.\u201d\u00a0 Yet examples such as this are too rare.\u00a0 As Lindsay said in an interview:<\/p>\n
I do take these evangelical CEOs to task [over executive compensation.] If they are really interested in working for the common good, they ought to figure out ways where they can be a little less self serving. That\u2019s really strong language, I realize, but it seems to me this is one area where they can really stand apart from their secular peers and, on the whole, they don\u2019t. I did come across evangelicals who presented attractive examples of trying to live out their faith [amidst great wealth,] but these were notable for being rare.<\/p><\/blockquote>\n
There are limits to what can be said in any single article, and I\u2019d like to continue to address this issue, turning in particular to practical solutions.\u00a0 If anyone has any thoughts, please let me know.<\/p>\n<\/body><\/html>\n","protected":false},"excerpt":{"rendered":"
A reader who comments on my article on executive compensation, \u201cThe Executive and the Cross,\u201d refers to the extravagant amounts of money given also to entertainers and sports stars.\u00a0 I\u2019m glad this was added, since it was something I intended to mention but forgot.\u00a0 If I should criticize John Thain for making $83M in a […]<\/p>\n","protected":false},"author":30,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-175","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"yoast_head":"\n
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