executive greed - a view from the real top!

salaries are skyrocketing in india and ofcourse the rest of the world. many Indians are now getting pay packets which compare to those in developed countries. but how of it is justified, i wonder. Peter Drucker used to say that the chief executive's pay should not exceed 12 times the lowest paid employee of the company. how much of the current executive compensation is justified given the inequalities in our country. - how many housemaids or manual workers can we employ with the salaries many indians make - ??

i found words from this news article very thought provoking.
"I have to say, if there is any change that has disgusted me in the past few years, then it is not in the least the self-dealing, the enormously high salaries, that they say are caused by globalization, but I say is caused by greed; excess that is unsustainable in a society that they want to live in. It is nothing but excess when some young men, that are just out of school, and even barely so, try to claim, in one year, that they need to serve themselves the lifetime salary of a diligent couple, ISK 200 - 250 million. We all need to slow down a little to preserve that which is most valuable to us, the stability, and we need to protect the equality which has characterized Icelandic society through the ages." - The Minister of Agriculture, Gudni Ágústsson, Iceland