$75 Million

The Globe and Mail recently published a list of the highest paid CEOs (I think in Canada). Apparently the highest paid CEO on the list made $75 million last year. Yes, you read that right, seventy five million dollars (okay, it was actually like 74.8, but I think we can round up for our purposes).

That is, in my humble opinion, completely beyond the pale. How can anyone justify that salary? I know that it wasn't all salary (it includes bonuses and other options), but seriously. That's just downright obscene. Absolutely no one deserves to make that much money (and if you know me at all, you know I don't like to make absolute statements).

I do not believe in the pursuit of profit for its own sake. I do not believe that capitalism is a good system. I have always believed that it will ultimately implode (the earth has a finite amount of resources, we will use them up, the only question that remains is: when will that happen?) once it gets too big, and here is a prime indicator that it is getting too big. Unfortunately, I have not yet come up with a solution to the problem, so I don't like to criticize too much (if you're not part of the solution, then clearly you're part of the problem), especially since my realization last year in Brazil that I have completely become a sell out.

However, I could not keep quiet on this one. $75 million dollars in one year is more than most people would even dream of. What the heck is he (and you know he's a man) going to do with all that money? It's not as though he had nothing prior to 2005. A CEO is probably living fairly well to begin with, so I'm sure he won't need it to buy a house or anything. His children are adults, so they're probably not going to need university tuition. Thus, I have a suggestion: spend the money educating people who need it.

I don't mean create an endowment for a chair in something rich and fancy. I don't mean create a scholarship for rich or privileged kids with good grades. One of my pet peeves is that almost all scholarships (except those that were created specifically for minorities by minorities and good for them because they are few and far between) are awarded to students with the best grades. Sure there are exceptions, some are for kids studying in certain fields, but within those fields, they are awarded to the kids with the best grades. Or they are awarded to kids from certain places, but again, they're given to the kids with the best grades. Sometimes they indicate something like 'must be able to demonstrate financial need', but just about any middle class kid in Canada who is going to college or university needs help to some degree.

You're probably all wondering what I have against kids with good grades. The answer is nothing really. What I have a problem with is the system. Contrary to popular belief, we are not all created equal. We are not all brought into this world on an equal footing and we do not make it through the primary and secondary school system as equals. Also contrary to popular belief, our capitalist society is far from being a meritocracy, and thus, we should not be awarding scholarships as though it is. If we want to further our society, we should invest in our children; all of them, not just the children of the elite. Not just the children born into privilege (and by privilege I'm including the middle class), but the children who may be able to excel with just a little bit more of an equal start.

Because once capitalism's bubble bursts, someone is going to have to try to pick up the pieces, and I think it would be best if we started planning for this future as soon as possible.