Political Games - Where the fuck’s the reset button?

The Free Market is bullshit. It doesn’t exist. Just more evidence for this is a recent decision by Circuit City to fire more experienced and thus higher paid workers and then have them reapply for their old jobs at a reduced wage. It’s the Free Market in action! As echidne notes, however, this is total fucking bullshit:

Circuit City could have made similar savings by first firing its CEO, Philip J. Schooner, who earned around 2.17 million dollars last year and then letting him reapply at the “market” rate for CEOs.

Does anyone honestly believe that a CEO’s job and the Board and all the super-wealthy directors of the company are subject to the Free Market? Are their wages? Fuck no. There are millions upon millions of white collar workers in this country, but how many CEOs? This implies high supply, low demand. This should drive down wages, according to neoclassical economic theory on labor markets. Does it? No. Are we surprised? Not really.

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