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- catalog abstract ""The continuing uproar over top executive pay packages in American companies calls attention to an even larger and more important issue: in general, do we compensate highly educated people in the United States in ways that serve the best interests of the nation? Are some people paid too much and others too little? What effect do differences in earnings have on the career choices of the talented? Do we pay executives and professionals in ways that motivate them to work hard at the right things?" "In the most revealing study yet undertaken of compensation practices in the fields of business, law, medicine, higher education, teaching, and government, Derek Bok, renowned for his extensive writings on professional ethics, law, and labor relations, argues persuasively that the compensation paid to top executives, lawyers, and doctors cannot be justified, nor is there evidence that huge bonuses and other financial incentives motivate them to do better work. Moreover, Bok asserts, the lucrative rewards of Wall Street, the elite law firms, and the medical specialties act as a magnet to deprive poorly paid but vitally important teaching and public service professions of desperately needed talent." "Bok argues that as our economy becomes more complex, the demand for able, highly educated people increases constantly and takes on greater and greater importance. Losing our most talented individuals to the lure of high compensation will affect the very nature of health care, the progress of the economy, the effectiveness of public policy, the pursuit of justice, and the quality of education in America." "President Clinton's tax proposals to curb excessive executive pay now before Congress are only a first step toward reform. Bok concludes that as we enter a new period of national development, we must rethink our deepest values, motivations, and priorities - reflected in our compensation practices - in order to better serve America's long-term interests."--Jacket.".
- catalog contributor b5009465.
- catalog created "c1993.".
- catalog date "1993".
- catalog date "c1993.".
- catalog dateCopyrighted "c1993.".
- catalog description ""The continuing uproar over top executive pay packages in American companies calls attention to an even larger and more important issue: in general, do we compensate highly educated people in the United States in ways that serve the best interests of the nation? Are some people paid too much and others too little? What effect do differences in earnings have on the career choices of the talented? Do we pay executives and professionals in ways that motivate them to work hard at the right things?" "In the most revealing study yet undertaken of compensation practices in the fields of business, law, medicine, higher education, teaching, and government, Derek Bok, renowned for his extensive writings on professional ethics, law, and labor relations, argues persuasively that the compensation paid to top executives, lawyers, and doctors cannot be justified, nor is there evidence that huge bonuses and other financial incentives motivate them to do better work. Moreover, Bok asserts, the lucrative rewards of Wall Street, the elite law firms, and the medical specialties act as a magnet to deprive poorly paid but vitally important teaching and public service professions of desperately needed talent." "Bok argues that as our economy becomes more complex, the demand for able, highly educated people increases constantly and takes on greater and greater importance. Losing our most talented individuals to the lure of high compensation will affect the very nature of health care, the progress of the economy, the effectiveness of public policy, the pursuit of justice, and the quality of education in America." "President Clinton's tax proposals to curb excessive executive pay now before Congress are only a first step toward reform. Bok concludes that as we enter a new period of national development, we must rethink our deepest values, motivations, and priorities - reflected in our compensation practices - in order to better serve America's long-term interests."--Jacket.".
- catalog description "Includes bibliographical references (p. 299-333) and index.".
- catalog description "Library Journal Best Books".
- catalog description "New York Times Book Review Notable Books of the Year".
- catalog description "The role of compensation -- The rise of the professions -- What happened after 1970 -- The 1970s and 1980s in perspective -- Corporate executives -- Doctors -- Lawyers -- University professors -- Teachers -- Federal officials -- Summing up -- The impact of values -- Searching for remedies.".
- catalog extent "vii, 342 p.".
- catalog hasFormat "Cost of talent.".
- catalog identifier "0029037557 :".
- catalog isFormatOf "Cost of talent.".
- catalog issued "1993".
- catalog issued "c1993.".
- catalog language "eng".
- catalog publisher "New York : Free Press ; Toronto : Maxwell Macmillan Canada ; New York : Maxwell Macmillan International,".
- catalog relation "Cost of talent.".
- catalog spatial "United States.".
- catalog subject "331.2/816584/00973 20".
- catalog subject "Executives Salaries, etc. United States.".
- catalog subject "HD4965.5.U6 B65 1993".
- catalog subject "Professional employees Salaries, etc. United States.".
- catalog tableOfContents "The role of compensation -- The rise of the professions -- What happened after 1970 -- The 1970s and 1980s in perspective -- Corporate executives -- Doctors -- Lawyers -- University professors -- Teachers -- Federal officials -- Summing up -- The impact of values -- Searching for remedies.".
- catalog title "The cost of talent : how executives and professionals are paid and how it affects America / Derek Bok.".
- catalog type "text".