Dr Alf raises the conundrum of the age, namely how to create growth and jobs and a more equal society at the same time.
Germany and Norway seem to manage this, with gaps between those at the top and those on average pay being circa 12 to 1.
The gap in the UK between the overall pay of a Times 1000 CEO and a person on average pay(£27,000 gbp) is now 300 to 1, as pay for these CEOs is around £8.2 million gbp including bonuses and other “emoluments” which are paid regardless of whether the CEO in question has succeeded, over-performed, been sacked, failed miserably or been made to spend “more time with his or her family”.
The gap in America between Fortune 500 CEOs and ‘Joe Six-pack’ is up to 1000 to 1 and in both countries the gap is growing.
We need to look at the need for social cohesion and sensible tariffs on imports, rather than unfettered free-trade and at how we can create more export led businesses to replace non-jobs in the public sector and those displaced by robotics, automation, expert systems, ageist employers, cybernetics and 3D printing.
This will require up-skilling, language teaching via Pimsleur methods, the teaching of selling, social media marketing and NLP.