Mobs, Messiahs, and Markets

Notes

¹John Locke, An Essay Concerning Human Understanding, Book II, edited Roger Woolhouse (London: Penguin, 1997), Chapter XXI, 50–51, 244.

²Nassim Nicholas Taleb, “Scaring Us Senseless,” New York Times, July 24, 2005.

³Stephanie Coontz, Marriage, a History: From Obedience to Intimacy (New York: Viking, 2005).

⁴Samuel Butler, Notebooks, 1912, Chapter 1, para. xvi.

⁵Ben White and Carrie Johnson, “Executives Cash In Regardless of Performance,” Washington Post, March 22, 2005, E01.

⁶Loren Steffy, “Oh, to Be a Failed CEO and Reap the Big Bucks,” Houston Chronicle, March 30, 2005. See also Executive Excess 2006—13th Annual CEO Compensation Survey, Sarah Anderson, John Cavanagh—Institute for Policy Studies; Chuck Collins, Eric Benjamin—United for a Fair Economy, ed. Sam Pizzigati, August 30, 2006, p. 30, www.faireconomy.org/reports/2006/ExecutiveExcess2006.pdf. See also Executive Excess 2005—12th Annual CEO Compensation Survey, Sarah Anderson, John Cavanagh—Institute for Policy Studies; Scott Klinger, Liz Stanton—United for Peace and Justice, August 30, 2005, p. 1, http://www.faireconomy.org/press/2005/EE2005.pdf. In 2004 the CEO‐to‐worker pay ratio reached 431:1.

⁷Executive Excess—12th Annual Survey, ibid., 20.

⁸Executive Excess—13th Annual Survey, op. cit, 5–6, 10–11. Defense contractors enjoyed average pay levels that are double the amounts they received during the four years leading up to 9/11. Their average compensation jumped from $3.6 million during the pre‐9/11 period of 1998–2001 ...