Drucker channels Weber

A 2005 BusinessWeek retrospective on management guru Peter Drucker, which harkens back again to my earlier posts about Max Weber and capitalism (here and here):

In a 1984 essay [Drucker] persuasively argued that CEO pay had rocketed out of control and implored boards to hold CEO compensation to no more than 20 times what the rank and file made. What particularly enraged him was the tendency of corporate managers to reap massive earnings while firing thousands of their workers. “This is morally and socially unforgiveable,” wrote Drucker, “and we will pay a heavy price for it.”

Update: yes, that was 1984, not 1884. Drucker was an old dude but …