ASI comments on high pay feature in the Financial Times and Forbes

Executive Director Sam Bowman’s comments on the High Pay Centre’s promotion of ‘Fat Cat Tuesday’ have featured in the Financial Times and Forbes. From the Financial Times:

Sam Bowman, executive director of the Adam Smith Institute, dismissed Fat Cat day as “the hand-waving of pub economics, not serious analysis”. He said: “Chief executives can be worth quite a lot to firms, as is shown by huge moves in company share prices when good CEOs are hired or bad CEOs are fired. Steve Jobs can make a firm; Steve Ballmer can break a firm.”

Read the full article here.

From Forbes (written by ASI Senior Fellow Tim Worstall):

There’s a number of problems with this manufactured outrage, as my colleague at the Adam Smith Institute, Sam Bowman, points out:

Top bosses will have earned more money by the end of Tuesday than the average worker will do in a year, campaign group the High Pay Centre has claimed. The group has declared the day Fat Cat Tuesday, based on chief executives earning £5m a year, compared with the median UK salary of £27,645. The think tank says its aim is to highlight the “unfair pay gap”.

Read the full article here.