Weekend Economists: See the Kittehs! May24-27, 2013

[Democracyinkind]

32. How fucking economically bold are the Swiss?

As you all know, the Swiss have started an epic political struggle to wrest control of the country from the gnomes of Zurich.

On March 3 the first round was won by the sovereigns' decision to accept the 20th amendment to the Constitution, which mandates strict shareholder control over corporate salaries, going as far as fining shareholders who fail to regulate manager compensation.

This fall en even more bold amendment will be voted on by the people: An amendment to cap the maximum wage in any given company at 12x the amount of the lowest salary... Now the fatcats - among them the largest criminal enterprise in the world, currently going by the name of "Glencore" - are threatening to leave the increasingly progressive boat! The huge mannatee indeed:

http://www.swissinfo.ch/eng/business/Glencore_head_considers_taking_company_abroad.html?cid=35731562

Passage of the 1:12 initiative would be “a catastrophe” for commodities giant GlencoreXstrata and could lead the company to leave Switzerland, said the firm’s CEO, Ivan Glasenberg, in a Sunday interview with the SonntagsZeitung.

http://www.swissinfo.ch/eng/business/Salaries_the_great_social_and_moral_divide.html?cid=34665536

Since the mid-1990s, the wage gap has been widening in Switzerland. In response to public outrage two popular initiatives have been launched. But the question remains whether it is possible to define fair or excessive salary at all.

Get that? They're so afraid that a majority of the people believe that 12x the amount of the lowest wage in a corporation is more than enough that they're bringing out the shills to muddy the waters... Guess what... Populist resentment of overreaching by the elites is NEVER dissuaded and calmed by proclaiming that "things are complicated to define...". Fuck that. 12x the amount of the lowest wage paid is more than enough... If you wanna be one of the fatcats at least have the common decency to offer meaty scraps and not just crumbs.

Obviously, I am going to vote for it. This country deserves better owners. In other news, Switzerland is currently spreading its cheeks for China, as the Gnomes want in on the Renmibi racket and are willing to sacrifice what is left of the manufacturing sector as an entrance fee. Gotta love those free trade agreements... the people don't want them but get them anyway. Meanwhile Switzerland is on lockdown so that those Pesky Swiss citizens of Tibetian origin won't ruin free trade like they did 10 years ago, when the Chinese were boo-ed out of Switzerland. Democracyinkind was a protester then, barely 16 years old, protesting about Tibet and Free Trade while the principle of our school (which the delegation visited) ordered the groundskeeper to chase us off with a broom.
This time protests have been relegated to "free speech zones" and we're getting free trade with China, ready or not. Yippie aye.

Obviously I am drunk and rambling on a Saturday afternoon. I feel like I should ad something about being due beer and travel money.

Anyways. That's the news from the gnomish front. Thanks, as usual for a great thread.