Top Dogs and Fat Cats: The Debate on High Pay

Top pay has risen much faster than average pay in the past 20 years. Today there's widespread public concern about the apparent excesses of some pay deals in the corporate sector - although people are more forgiving of the rewards to entrepreneurs, entertainers and sports stars. This collection of essays puts various aspects of this debate under the spotlight. It looks at the role of shareholders in awarding executive pay, examines how pay data are produced and used, and asks whether Long-Term Incentive Plans have created unnecessary inflation of executive pay. It also looks at high pay in the public sector and in areas where government funding plays a major role - such as universities and charities. And it investigates the disparity in pay between men and women among very high earners.

Len Shackleton is Professor of Economics at the University of Buckingham, a Research and Editorial Fellow at the IEA and Editor of Economic Affairs. He has run two major business schools and worked as an economist in the UK civil service. His main research interests are in labour economics.