The exiting BP Chief Executive Tony Hayward has become rich as a time-serving employee, working his way up a huge corporation over three decades, profiting from the brand and infrastructure of a company that was created three years before he was born. Then he was made a scapegoat for an...

Too often, capitalism's strongest supporters defend high executive pay, especially in the finance sector, in the belief that they are upholding the principles of the free market. This is a grave mistake. The market for pay has been distorted by self-interest, and the capitalist system they hold dear is suffering...