http://business.financialpost.com/fp-comment/william-watson-christine-lagarde-mark-carney-wouldnt-take-a-pay-cut-so-why-talk-up-inequality
by William Watson
IMF head Christine Lagarde and Bank of England Governor Mark Carney both spoke last week in London on the subject of “inclusive capitalism” at a highly exclusive conference organized by Lady Lynn Forester de Rothschild . . .
Prince Charles and Bill Clinton were also keynoters . . .
other notable attendees seem to have been included exclusively because they were CEOs of big businesses such as Google, Unilever, GlaxoSmithKline, Dow Chemical and Prudential PLC all of whom presumably gave ghost-written voice to the nowadays politically correct case for polite, genteel, non-confrontational egalitarian capitalism.
Three Canadians present were Liberal MP Chrystia Freeland, Roger Martin of the Rotman School and Mark Wiseman of the Canada Pension Plan Investment Board. . . .
With the OECD and World Bank having pitched in with anti-inequality reports and initiatives recently, that would seem to make it unanimous among international officialdom the world round: Capitalism creates inequality and because people don’t like inequality we have to do something about capitalism. . . .
(INSERT: warning. I am quoting out-of-context. The author is a “market fundamentalist” applying the associated principles to point out the inconsistencies that come with political correctness.)
If people at the top end making too much money is the dangerous social problem they (Lagarde and Carney) both think it is, why don’t they help out by taking a pay cut? . . .
If they wouldn’t consider their own incomes ill-gotten, why do they implicitly assume everyone else’s are?
(Please go to the URL if you’d like more. The FP uses technology that prevents me from copying.)