ARE CEOS, CELEBRITIES, AND ATHELETES OVERPAID? 01/02/2008


by Moody Adams
Economist Walter Williams answers complaints about high paid people making so much money. He says they deserve what they make or they wouldn’t be making it.

“When Jack Welch became General Electric's CEO in 1981, the company was worth about $14 billion. Through hiring and firing, buying and selling decisions, Welch turned the company around and when he retired 20 years later, GE was worth nearly $500 billion. What's a CEO worth for such an achievement? If Welch was paid a measly one-half of a percent of GE's increase in value, his total compensation would have come to nearly $2.5 billion, instead of the few hundred million that he actually received.”

“The labourer is worthy of his hire” (James 10:7). If Welch can make over $400 billion for his company, isn’t he worthy his high priced hire?

Christians should strive to prosper: “Beloved, I wish above all things that thou mayest prosper and be in health, even as thy soul prospereth”--(III John 1:2). Yet they should oppose the lazy man’s “prosperity gospel.” Prosperity should come through our labors not through “naming it and claiming it.” It is our Christian duty to make all the money we can, with out harming our mental or physical health and without engaging in sinful practices, such as gambling, selling liquor or overcharging in interest.

The just reason for making more money is so that we can do more good for others. How much we can save and in turn give to help needy people.

Only when men come to love and cherish the money and waste it upon them, does it becomes the “root” of evil.


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