The days of unfettered CEO paychecks could be coming to an end, as global concern about pay inequality have begun to increase -- and it’s not just talk. From Germany to the United States, proposed legislation has been put in motion to limit massive payouts. In America, the main push is coming by way of financial reform, like the Dodd-Frank Act, which includes a provision that requires companies to disclose what the chief executive officer makes in comparison to the rest of the employees. This kind of public transparency has drawn much criticism as some businesses fear making such extreme differentials public.
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The Equal Pay Act outlawed employers from gender-discriminatory pay practices in 1963, but pay still isn't entirely equal. Now, legislation seeks to expand existing law to enact more protections against male-female pay disparities. Fed up, women are "leaning in" hard on this one, which means the Paycheck Fairness Act, twice rejected by Congress, might now stand a better chance of becoming law.
Feminism brought women into academics, the professional world and other male-dominated arenas, but has yet to transform the world of executive leadership. Of the Fortune 500 CEOs, only 21 are women.
We all know the equation: more money subtracts stress and adds a peace of mind not afforded the cash-strapped working poor. In other words, money buys some measure of happiness. But a new study by the Brookings Institute suggests something more: that the wealthier you are, the happier you become. So, evidently, money buys you infinite happiness.