Symbolic Politics and the Regulation of Executive Compensation

Autor:	Sandra L. Suárez
Rok vydání:	2014
Předmět:	Politics Executive compensation Sociology and Political Science Inequality media_common.quotation_subject Political economy Political Science and International Relations Economics Great Depression Root cause Social Sciences (miscellaneous) Great recession media_common
Zdroj:	Politics & Society. 42:73-105
ISSN:	1552-7514 0032-3292
DOI:	10.1177/0032329213512980
Popis:	When politicians feel popular pressure to act, but are unwilling or unable to address the root cause of the problem, they resort to symbolic policymaking. In this paper, I examine excessive executive compensation as an issue that rose to the top of the political agenda during both the Great Depression and the Great Recession. Presidential candidates, members of Congress, the media, and the public alike blamed corporate greed for the economic downturn. In both instances, however, enacted legislation stopped short of changing the way in which executive pay was determined or placing effective, enforceable limits on it. I analyze the nature of the democratic process and contend that public policy scholars need to pay more attention to the occurrence of symbolic policies. The category of symbolic policies offers a more accurate approach to understanding the politics of executive compensation in the United States during the two crises and helps explain why, in spite of the recent legislative efforts, it continues to rise.
Databáze:	OpenAIRE
Externí odkaz:	https://explore.openaire.eu/search/publication?articleId=doi_________::e19defee49f11ddf25571d7ec524966b https://doi.org/10.1177/0032329213512980 Zobrazit plný text záznamu