The High Cost of Market Failure

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The protest in the wall street is now entering its fourth week. One of the many reasons why Americans protest is that executive pay is rising strongly while share prices are down and returns to shareholders falling. The article is pointing out that while people have worker's pay rising roughly 3% a year, executive salaries put on double digit returns. "The market is broken", they say, because supply and demand are not intersecting efficiently. There is no credible evidence that paying more to CEOs result in better profit. For example the CEOs of America's Big Four banks are paid $10 million salaries despite presiding over corporations that cannot go bust. And it's unfair since no small business in the country is afforded the same protection and guarantee.

To me, the wall street protest doesn't make sense. People are violently joining and enlarging the protest and are marching here and there. They are disturbing local business that relies on tourism. To me, they don't look angry on greedy wall street CEOs; they are happy because finally they found a place where they could exert their anger that's simply based on their inability and ineptness, not the market structure or the "greedy" CEOs. CEOs taking so much salary is NOT the sole reason why the economy is trembling and people losing jobs, but now they are blaming the CEOs because they are jealous that they are jobless while CEOs earn so much more. Of course, they might be angry of the thought that the increased interest rate is burdening them while feeding the CEOs and other high rank officers of the bank. Then why are they begging their jobs in the protest? People who don't have income thus who don't have money to invest or to save in banks have no right to protest against banks, and blame banks of their unemployment. People with better skills and better degrees have no trouble in getting jobs - people who love to blame other for their failure, they are the ones who fail to have jobs or get paid higher salaries. They should go back home and think what they've done wrong.