Inequality is a problem for everyone -- for business, for the health of the democracy and for society at large. Our free-enterprise system is the driver of income and wealth. Business leaders don't have to wait for government solutions to the inequality problem. They have the tools at hand -- they just need the courage to step away from the pack and use them.
The salaries at Pimco confirm what researchers have been saying about income inequality in America: far more than the 1 percent, it’s the skyrocketing compensation of the 0.1 and 0.01 percent that are driving the rise in income inequality. Everyone – from the merely highly-paid to low-wage workers – is losing ground to the new income elite.