In 2020 bosses of the top EU companies had weekly earned the same amount that an average worker in Europe earns in an entire year. And according to the Economic Policy Institute, despite the spreading of Covid-19 epidemic, chief executives of the 350 largest US companies earned an average of $ 20 million in 2020. In other words, there are evidence that top bosses continue to earn high salaries while coronavirus pandemic is exposing low-income populations to job losses and health risks.
The executive's price-driven salaries began in the early 1980s, when CEOs pay become connected with share prices (companies' share prices on stock markets). The problem is that sometimes an excellent company has nothing to do with the CEO. Not to mention of companies that operate in an oligopoly, as we can see nowadays in the emerging vaccine industry.
While people at the top are maintaining their wealth and society is suffering higher levels of inequality, the EU unveils plan for Covid-19 digital pass to allow travel within member states with the aim of helping entrepreneurs and workers who are involved in travel industry and tourism.
The digital pass is expected to consist of QR code that can easily be scanned at airports, as it will be in digital or paper format. On the one hand, some EU states say the digital pass discriminates people who didn't receive the injection to prevent Covid-19 illness. On the other hand, EU Commission says the certificate is not discriminatory and would be suspended after pandemic ends.
The following pictures show some popular tourist destinations in EU ... I hope tourists will come back there in the next months.
...the pay of CEOs is tied to their company's stock price, cooking the books becomes popular.
ReplyDeleteThat's true, unfortunately!
DeleteLittle things here and there have been happening all over the world, but more than ever now, to enter that "brave new world". It's coming.
ReplyDeleteI agree! There is a transition to a new (economic) world order.
DeleteIt is tragic to see the gap of opinion that occurs in any country between executives and ordinary people, who sometimes have difficulty eating daily expenses.
ReplyDeleteActually, many people around the world are suffering higher level of inequality, while rich people become richer.
DeleteAnd that's very true, Giorgio.
DeleteIn my country this is also the case.
On television there are broadcasts of celebrities showing off their wealth assets, while on news programs hunger and economic hardship are everywhere.
What irony and spectacle that I think is not educational and inappropriate.
Oh no, how can celebrities show off their wealth through the media network? Shame on them! On the contrary, they should organise food aids for people in difficulty.
DeleteQuesto divario è inconcepibile, mentre la povertà dilaga a macchia d'olio...
ReplyDeleteBellissime le foto che hai pubblicato, speriamo di poter tornare presto a viaggiare e visitare le bellezze Europee!
Kisses, Paola.
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Riguardo alla possibilità di poter tornare a viaggiare e programmare una vacanza all estero, la Commissione UE spera di vaccinare entro giugno di quest'anno il 60% della popolazione degli stati membri. Speriamo non ci siano ostacoli nel realizzare il programma ambizioso della Commissione UE, che consentirebbe la ripresa di vari settori economici (trasporti aerei, servizi turistici, ristorazione, etc.).
DeleteGrazie per aver condiviso il tuo punto di vista, Paola.
Un caro saluto
Buon fine settimana, caro!
ReplyDeleteKisses, Paola.
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Very concerned about the economic situation of the people during this pandemic.
ReplyDeleteThe boss's income is getting bigger
Employee income has been cut and some have even lost their jobs.
Social inequality is widening.
The crime rate is also getting higher.
Especially in developing countries like ours.
We do not know how long the government will be able to tackle social inequality. Meanwhile, there are several high-ranking government officials and ministers who are corrupt.
Hopefully the storm will pass soon
Have a nice week
Regards
You are right! The crime rate has been rising as there is a relationship between inequality and instabilty. With regards to politicians, we're also looking at bribery and/or intimidation. Not to mention of the middle class that disappaers.
DeleteHave a nice week!
The disparity is stark and poverty is likely to significantly increase. Such a sad state of affair the pandemic has wreaked upon us.
ReplyDeleteLove the beautiful images you shared , Giorgio!
That's true, unfortunately! ... The pandemic enables them (the top 1 %) to become richer.
DeleteGlad you enjoyed the pictures I took a few years ago when I was on holiday abroad.
Buon inizio settimana, Giorgio!
ReplyDeleteKisses, Paola.
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