Civilization and Impulse Control: An Executive Compensation Package Analysis
Over the years, this view of civilization has stuck with me: Civilization is defined as impulse control. If this is so, how does outlandish executive compensation fit into civilization?
The poster illustration for uncivilized behavior, it seems, could be the greed of outrageously excessive executive compensation packages. Richard Fuld at Lehman Brothers, for example, made $484 million in 8 years as he ultimately drove his company out of existence.