Salaries/Smoking Grasso

by Steven F. Hayward

Jonah: You are right that Hollywood salaries are (mostly) connected to market performance, whereas Grasso appears to be a winner of pure crony capitalism. However, the leftist argument against high corporate salaries is usually based on some egalitarian-inspired notion of “fairness” or “intrinsic merit.” This is bosh, of course (see: Hayek), but we should not pass up the opportunity to demand that the left apply the same standards to their friends in Hollywood. This might be one way of shutting them up. For five seconds anyway. But as I said in my forst point, I largely agree with you that the Grasso payout really smells. (I wonder if he is a Democrat, by the way. Something tells me he probably is.)