Teamsters local 570

Keeping Workers Poor Is Bad For Business

Posted On: Jun 23, 2022

June 23, 2022 | WAGES | CEOs at America’s biggest low-wage employers now take home, on average, 670 times what their typical workers make. But we don’t just get unfairness when a boss can grab more in a year than a worker could make in over six centuries. We get bungling and inefficient businesses. Management science has been clear on this point for generations, ever since the days of the late Peter Drucker. Management theorists credit Drucker, a refugee from Nazism in the 1930s, for laying down “the foundations of management as a scientific discipline.” Drucker’s classic 1946 study of General Motors established him as the nation’s foremost authority on corporate effectiveness. Nation of Change