> Maybe if the entire company had everyone at the same pay, and any excess income was taxed for the use of the whole society, I could see it.
I think that's why this works in Japan. The American notion of these CEOs earning millions (and then getting extra millions in bonuses even when they screw up or are fired) is very foreign (as the article says, the company will keep you in style appropriate to your station, but in more subtle ways). The conglomerate pays everyone similarly, makes modest profits (which probably means that some parts of it are losing money big time, and subsidized by the profitable divisions - but it would be unthinkable to just close a division and fire everyone) and returns them to shareholders, who are at least perceived as being mostly ordinary folks saving for retirement.
I think that's why this works in Japan. The American notion of these CEOs earning millions (and then getting extra millions in bonuses even when they screw up or are fired) is very foreign (as the article says, the company will keep you in style appropriate to your station, but in more subtle ways). The conglomerate pays everyone similarly, makes modest profits (which probably means that some parts of it are losing money big time, and subsidized by the profitable divisions - but it would be unthinkable to just close a division and fire everyone) and returns them to shareholders, who are at least perceived as being mostly ordinary folks saving for retirement.