Yep. A giant reason for this whole mess is that the only real representation at the top of corporations are for the shareholders. Executives are elected by the board to do one thing: serve a fiduciary duty to the shareholders.
Workers might be lucky enough to be fed scraps of equity, but even that is rare now.
Not too long ago, corporate leaders in the US had a sense of dignity. They were always better off than most workers, but not by this level. Paying a fair wage to the labor that created the wealth was an intelligent and respected decision.
But a new generation came to power and has changed the whole game. Allowed and even celebrated greed. And instead of taking action to stop this, regulations have become more relaxed and allowed worker rights to erode.
Under his watch, the financial industry has already experienced vast automation and productivity increases. The coding and connections between financial firms and banks has cut what used to take days into an automated process that takes fractions of seconds… Yet it’s the norm to still work extremely long hours.
It seems disingenuous that this person who has reaped the rewards of this productivity increase without passing the time savings down the chain actually believes shorter work week is likely.