We often hear that the United States is a "middle-class" society. Where does this idea come from, and how true is this claim? Explain. From 1970 to 2005, average U.S. family income rose 20%, however, during the same period, CEO income increased 2,800%. Do American CEOs work that much harder than the average American? Explain.
We often hear that the United States is a "middle-class" society. Where does this idea come from, and how true is this claim? Explain. From 1970 to 2005, average U.S. family income rose 20%, however, during the same period, CEO income increased 2,800%. Do American CEOs work that much harder than the average American? Explain.
Social Psychology (10th Edition)
10th Edition
ISBN:9780134641287
Author:Elliot Aronson, Timothy D. Wilson, Robin M. Akert, Samuel R. Sommers
Publisher:Elliot Aronson, Timothy D. Wilson, Robin M. Akert, Samuel R. Sommers
Chapter1: Introducing Social Psychology
Section: Chapter Questions
Problem 1RQ1
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We often hear that the United States is a "middle-class" society. Where does this idea come from, and how true is this claim? Explain.
From 1970 to 2005, average U.S. family income rose 20%, however, during the same period, CEO income increased 2,800%. Do American CEOs work that much harder than the average American? Explain.
Transcribed Image Text:CEOS make 278 times more than typical workers
CEO-to-worker compensation ratio, 1965–2018
500
CEO-to-worker compensation ratio based on options realized
CEO-to-worker compensation ratio based on options granted
400
386.4
368.1
345.9
300
278.1
241.1
200
221.0
100
581
31.6
19.9
15.5
45.1
24.5
1970
1980
1990
2000
2010
2020
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