William T Goodall <[EMAIL PROTECTED]> wrote:
>Since a teacher will probably work for 35 to 40 years
>and it is not practical to change in mid-career (seniority, pensions,
>retraining) it can take a *very* long time for the invisible hand to
>recognise that supply and demand are out of kilter.
Very good point. This may account for some of the failings in the
hypothesis.
> > CEO of Large Company - must inspire confidence; therefore a past history
>of
> > success is essential, leading to very few available candidates.
> >
>
>Many CEOs of the computer, internet and other high-tech industries are
>heads
>of large companies because they were in the right place at the right time.
Yep - but looks what's happening as these companies coalesce and merge; it's
the guys with *experience* like Steve Case that last, while Marc Andressen
is left out in the cold. AOL was old school technology and Netscape
revolutionized the Internet and made the nice IPOs, but it was AOL's CEO
that survived.
> > The hypothesis falls out of a capitalist economy - it's basic supply and
> > demand. Why is there such confusion about it?
>
>Another natural tendency of capitalism is toward monopolies and cartels.
I'm not arguing for or against this pay structure, merely pointing out (as
John and others have) that it seems like the inevitable result of how the
rules play out, and that the fundamental rules of the game would have to
change significantly - in such a way that perhaps no-one wants to play any
more - to alter the outcome.
Joshua
_________________________________________________________________
Get your FREE download of MSN Explorer at http://explorer.msn.com
