New French law to limit CEO pay to 20 times of lowest paid employee
CEO’s are all over paid. So let’s limit what they can make. Sounds great, right?
Like most things governmental, they never bother to look at the unintended consequences of their laws.
All this law is going to do is harm the unskilled and low paying jobs. If I’m a CEO I’m going to law off people not making a lot of money, usually the unskilled, the young, and the poor. Unemployment among those groups are all going to skyrocket.
Rather than hiring 3 unskilled workers at $8/hour I’d just hire 1 skilled worker at $25/hour or $26/hour to do the job the 3 could have handled for less money. But because of governmental interference the unskilled laborer will lose their job and will never be able to get the work experience to grow.
Great job France. Continue passing laws at the expense of your poor and unskilled.