Plotob•ll.,,,d li,.i 1her ul,rso(1he id.,.,Is ocl<1y,houldb epold no mor,th•n founlmes wb>l 1he lowliestn >en,b,,ro f 1h01s ociety w•s p,3,d.I n th< Uniled Stoles In 1980,C EO cornpmadon w;u:Q tJruattd U>b t -tl lil'Of:d'j1 ato ( u.,'tng.cc mplO),'t'Cb'"y- 2014, h "ti 303 limit$. The $700-biUfong (),~mmenl bailout of 2008 fC'&.CUmCa'indy major flmmcfa.l in~titul ions whosr leaders had .steered the United tat~ into the worst C'Conomicc risis

$..lncc 1hc Crral Dt>prt:5slon. Whll.e mlltion.s. o( Jobs. homes. and rt"tir~me.nt savings were lot:t. ,enlor cxecutivH In thee nn,mc:lal se tor wete re"·arded with e.nornlous P•Y p•ckagu. The Economi< Policy lnsihutc repwtod In 2016 lha1 lh< CEOworkrr pay ratios o(thl' larg('st 168 comp.1.nie-.sI n 1hr Unlt('d Sl~l-tt a,•cragtd 70-1.

with M>mie:a rning mort Llun 300 limes the medi.1n& a.laneos r their cmplo)tts.

(a) An11l)•1n.tc: culi\•c compc.nsation with tht! ethical 1oolki1.H o-ww ould Mjhon Friedman, ~nt to rKompense corporate exi"Ct.11i?w H ow would a u1Hitui:1n?

A deontologl1 b,ve to r•houl ex«Ullve comp,cnsation? \Vhat would be lM' rapol\$(" of 1hc cthk o( arcr

(bl Under Dodd-Frank !inane< reform law, bcglnnlng ln January 2017, publicly trndc:d companies wcr,t- required to m:ak-e enh;anced dis.dosurics of ni:-cuHve con1p,e:ns:1tionF. ind out ff this rute wem anto d{ect as planned. How might

,honh~ldm re,pond 10 ueh dt

48 CHAP'TERI AppendixLO1