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By every historic measure of executive pay versus salary of average employee.

This is a nonsensical metric, because it ignores changes in company size and capital structure. A four person simple proprietorship is going to be very different than a 400,000 person corporation with a lot of debt. Which isn't to say that I don't think most executives are overpaid versus the value that they bring, but this metric is not why.

Look at Apple with and without Steve Jobs. Was he only worth 20 times the salary of the average employee to it?
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