Carol Bartz, CEO of Yahoo!, is universally recognized as a moron and a failure. Yahoo!'s management, too, is regarded as a group of do-nothing, know-nothing failures. They have failed the company, and yet what is going to happen to them?
Carol Bartz earned $39 million. For one year of "work." She failed, and that's her punishment.
Meanwhile, she and her stooges are going to outsource over 1,000 American jobs. The people who showed up and actually worked are going to lose their jobs:
Yahoo managers are preparing to layoff 20% of the company, TechCrunch reports, citing two sources.
That, in essence, is American capitalism. A few insiders loot public companies. The working stiff gets fucked.
If you want to defend Bartz by citing the "free market" or whatever, my question is: Why? Really, what the fuck is wrong with you?
Why defend overpaying a CEO and outsourcing American jobs? How does American capitalism benefit you or your family? Do you think you're going to be a CEO? Really?
Perhaps you'll claim to be an intellectual warrior who fights for what's right - even if what's right is to your own detriment. How does defending American capitalism further some Platonic sense of Justice or Fairness?
Aren't there other things to fight for other than a system that allows people like Bartz and her cronies to loot companies while destroying the Middle Class? Why put "Defend Carol Bartz" on your intellectual to-do list?
You defend American capitalism because you are an idiot - a useful idiot who has been told that "free markets" are the source of American liberty.
Enjoy your freedom to purchase cheap goods at Wal-Mart, which you'll pay for with your $12/hr. service job.
Meanwhile, academic frauds and apologists for "free markets" will continue earning hundreds-of-thousands-of-dollar a year. Tyler Cowen and his ilk at the Mercatus Center are evil, but they aren't idiots.
While working at taxpayer-supported institutions, they'll continue convincing you to support policies that hurt you. Meanwhile, those same apologists for "free markets" will continue suckling from the taxpayer teat - all-the-while enjoying the protection of unions and tenure.
The same people who tell you to support "free markets" earn over $150,000 a year in taxpayer money. They pad their salaries with consulting and speaking fees from banks and other large corporations. They enjoy tenure protection - which means guaranteed lifetime employment. Any economist or law professor who isn't earning $250,000 a year is doing something wrong.
Why are you listening to their arguments? If "free markets" are so great, why have they gone to such lengths to insulate themselves from a free labor market?