Abstract
The usual rationale for paying the CEOs of large, global companies ridiculous sums of money is that these organizations are extremely hard to run, and the mix of skills, abilities and talent needed to run them well is so rare that the extraordinary people who possess it can command extraordinary rewards. It’s supply and demand. Huge CEO pay packets are just market-clearing prices for skills as rare as hen’s teeth.
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© 2010 Tom Lloyd
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Lloyd, T. (2010). The myth of leadership. In: Business at a Crossroads. Palgrave Macmillan, London. https://doi.org/10.1057/9780230250987_7
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DOI: https://doi.org/10.1057/9780230250987_7
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