In contrast to the recent past, there is now widespread concern about the apparent excesses of some pay structures in corporate businesses. Top pay has risen much faster than average levels of pay in the last twenty years. This is in part the consequence of globalisation and developments in communications technology, but it may also be a result of rigged markets and "crony capitalism". It is asserted that shareholders do not have enough influence on setting executive pay, which is determined by remuneration committees and consultants with a vested interest in boosting top pay. It is important to understand how pay data are produced and used an look at changes in wealth (as a result of changes in share prices), rather than simply at the current pay package. A claim is often made that CEO pay bears no relationship to company performance. To assess this claim requires rather more sophisticated analysis than is often employed by activists and the media. Using such analysis, it does seem that pay reacts (both positively and negatively) to changes in performance, though possibly less than it should. The widespread adoption of Long-Term Incentive Plans (LTIPs) has been widely criticised; it is felt that these schemes are often badly designed and have led to unnecessary inflation of executive pay. Governments need to be careful in how they react to populist calls for action. The current requirement for large businesses to spell out the basis of their pay structure may be acceptable, and maintaining a watchful eye on pay in the public sector is sensible. But giving the state power permanently to fix pay ratios or even pay caps brings dangers which are not sufficiently discussed by those demanding government intervention.

Economic AffairsVolume 37, Issue 3 p. 460-462 Book Review Adults in the Room: My Battle with Europe's Deep Establishment by Yanis Varoufakis. The Bodley Head (2017), 560 pp. ISBN: 978-1847924452 (hb, £20). Vicky Pryce, Corresponding Author Vicky Pryce vickypryce@googlemail.com Centre for Economics and Business ResearchSearch for more papers by this author Vicky Pryce, Corresponding Author Vicky Pryce vickypryce@googlemail.com Centre for Economics and Business ResearchSearch for more papers by this author First published: 18 October 2017 https://doi.org/10.1111/ecaf.12257Citations: 1Read the full textAboutPDF ToolsRequest permissionExport citationAdd to favoritesTrack citation ShareShare Give accessShare full text accessShare full-text accessPlease review our Terms and Conditions of Use and check box below to share full-text version of article.I have read and accept the Wiley Online Library Terms and Conditions of UseShareable LinkUse the link below to share a full-text version of this article with your friends and colleagues. Learn more.Copy URL Share a linkShare onFacebookTwitterLinkedInRedditWechat No abstract is available for this article.Citing Literature Volume37, Issue3October 2017Pages 460-462 RelatedInformation

Economic AffairsVolume 35, Issue 3 p. 464-470 Discussion Greece: Is there Light at the End of the Tunnel? Vicky Pryce, Vicky Pryce Chief Economic Adviser, former Joint Head [email protected] Centre for Economics and Business Research UK Government Economic Service She is the author of Greekonomics (Biteback Publishing, 2013).Search for more papers by this author Vicky Pryce, Vicky Pryce Chief Economic Adviser, former Joint Head [email protected] Centre for Economics and Business Research UK Government Economic Service She is the author of Greekonomics (Biteback Publishing, 2013).Search for more papers by this author First published: 27 October 2015 https://doi.org/10.1111/ecaf.12148 Read the full textAboutPDF ToolsRequest permissionExport citationAdd to favoritesTrack citation ShareShare Give accessShare full text accessShare full-text accessPlease review our Terms and Conditions of Use and check box below to share full-text version of article.I have read and accept the Wiley Online Library Terms and Conditions of UseShareable LinkUse the link below to share a full-text version of this article with your friends and colleagues. Learn more.Copy URL Volume35, Issue3October 2015Pages 464-470 RelatedInformation

Economic AffairsVolume 35, Issue 1 p. 152-160 Review Article The Social Order of the Underworld: What Goes On in Us Prisons Should Worry the UK Vicky Pryce, Vicky Pryce Economist and business consultant, former joint head [email protected] UK Government Economic ServiceSearch for more papers by this author Vicky Pryce, Vicky Pryce Economist and business consultant, former joint head [email protected] UK Government Economic ServiceSearch for more papers by this author First published: 06 February 2015 https://doi.org/10.1111/ecaf.12114Read the full textAboutPDF ToolsRequest permissionExport citationAdd to favoritesTrack citation ShareShare Give accessShare full text accessShare full-text accessPlease review our Terms and Conditions of Use and check box below to share full-text version of article.I have read and accept the Wiley Online Library Terms and Conditions of UseShareable LinkUse the link below to share a full-text version of this article with your friends and colleagues. Learn more.Copy URL Share a linkShare onEmailFacebookTwitterLinkedInRedditWechat References Becker, H. (1966) Outsiders: Studies in the Sociology of Defiance. London: Collier-Macmillan. Curtis, L. (2011) Unit Costs of Health and Social Care 2011. Canterbury: Personal Social Services Research Unit, University of Kent. Dodd, V. (2012) ‘Police up to 28 Times More Likely to Stop and Search Black People – Study’, Guardian (London), 12 June. The Economist (2013) ‘ Where Have All the Burglars Gone?’, 20 July. Hansard (2011) HC Deb 4 April, vol. 526, no. 145, col. 642W. Available at http://www.publications.parliament.uk/pa/cm201011/cmhansrd/cm110404/text/110404w0003.htm (accessed 15 December 2014). Hawton, K., L. Linsell, T. Adeniji, A. Sariaslan and S. Fazel (2014) ‘Self-harm in Prisons in England and Wales: An Epidemiological Study of Prevalence, Risk Factors, Clustering, and Subsequent Suicide’, The Lancet 383(9923), 1147–1154. 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CSR is now an important issue for all companies, large and small. Companies are under pressure to behave responsibly from their consumers, in their purchasing activities, from the government and regulators, from the investment community and from potential employees.

Economic AffairsVolume 10, Issue 4 p. 22-27 How Far to 1992? Vicky Pryce, Vicky Pryce Vicky Pryce is the Chief Economist of KPMG Peat Marwick McLintock and a partner in the Management Consultancy Strategy Services Group. She has been heavily involved in the 1992 work undertaken by the Management Consultancy practice.Search for more papers by this authorNeil Sherlock, Neil Sherlock Neil Sherlock is an economist with KPMG Peat Marwick Management Consultants. He won a Boulter Exhibition at Christ Church, Oxford and graduated with a first class degree in Philosophy, Politics and Economics.Search for more papers by this author Vicky Pryce, Vicky Pryce Vicky Pryce is the Chief Economist of KPMG Peat Marwick McLintock and a partner in the Management Consultancy Strategy Services Group. She has been heavily involved in the 1992 work undertaken by the Management Consultancy practice.Search for more papers by this authorNeil Sherlock, Neil Sherlock Neil Sherlock is an economist with KPMG Peat Marwick Management Consultants. He won a Boulter Exhibition at Christ Church, Oxford and graduated with a first class degree in Philosophy, Politics and Economics.Search for more papers by this author First published: April 1990 https://doi.org/10.1111/j.1468-0270.1990.tb00728.xAboutPDF ToolsRequest permissionExport citationAdd to favoritesTrack citation ShareShare Give accessShare full text accessShare full-text accessPlease review our Terms and Conditions of Use and check box below to share full-text version of article.I have read and accept the Wiley Online Library Terms and Conditions of UseShareable LinkUse the link below to share a full-text version of this article with your friends and colleagues. Learn more.Copy URL Share a linkShare onFacebookTwitterLinkedInRedditWechat Volume10, Issue4April 1990Pages 22-27 RelatedInformation