The AIG bonuses have marked a turn, for the worse — not economically but socially, or morally. The disgrace of the bonus-giving itself has been dwarfed by the populist reaction against them. Matthew Yglesias has pointed to some of the best bits from around the web — especially via this post quoting Brad DeLong on compensation reform (also [...]
Tagged as:
aig,
animal spirits,
bailout,
behavioural economics,
bonuses,
compensation reform,
corporate bonuses,
corporate compensation,
crisis,
economics,
emotions,
ethics,
going galt,
learned helplessness,
learned optimism,
matt taibbi,
morality,
positive psychology,
recovery,
robert shiller,
self-assertion
I’m starting this post without an opinion about bankruptcy vs. bailout for GM et al. In all honesty, I’m prepared for the worst either way — though I’m somewhat less inclined to oppose letting them fail (keeping in mind that bankruptcy doesn’t necessarily mean going out of business). GM hasn’t exactly exemplified itself as a great [...]
Tagged as:
auto industry,
bailout,
bankruptcy,
barack obama,
gm,
toyota
