Thursday, 24 November 2011

 The Myth of Talent

Much has been published recently upon the subject of excessive executive salaries. I've followed the views expressed by various vested interests with a mixture of inevitable resignation and immense cynicism.

The most untested and questionable reason given to justify why senior directors of major banks and other large companies must be paid such huge salaries, is the assertion that they are somehow exceptional people who possess such enormous talent and ability, that if we do not pay them obscene amounts of money they will all resign their very lucrative positions and go and work for someone else.

This is no more than the perpetuation of 'The Myth of Talent,' a delusion we been persuaded to believe by those who benefit from our insecurity, fear, ignorance and gullibility.

Remember, the persons asserting these views are largely the same people who ran our banks into the ground, destroyed our manufacturing base, pocketed enormous bonuses, forced their companies to lay off thousands of loyal workers, had to be bailed out from the public purse and paid themselves salaries out of all proportion to the performance of their company, or their individual worth.

Just ask yourself this: if these people are so exceptional and immensely talented, why we are we all in the economic shit?  
If they are so incredibly brilliant that their loss would prove a disaster, why did their ability not reveal itself when it was required to protect us?
The answer is clear. They are not generally speaking, people of exceptional ability. They are, just like everyone else, flawed, fallible and capable of failure.

We shall not make any progress towards resolving the obscenity of rewarding company executives for failure until we confront and dismiss 'The Myth of Talent,' A conspiracy perpetuated by mediocre thinkers to convince us all that they are indispensable.

We should test their claim of indispensability, by sacking them from their pampered, protected and privileged positions and put in their place people of genuine ability and talent evidenced by results.
We need to call the bluff of these blustering idiots who claim we'd be lost without them.

From all I've heard, witnessed and thought, we'd be much better off if they were all made to resign and forced to seek their future fortune in the lucrative open market they all claim is salivating in anticipation at their availability.

All I would say in conclusion is:  Goodbye, and good riddance to them all!.

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  1. An excellent article James! I am no economist but I can appreciate everything written here to be true. I would also like to thank you for your support on Viewshound where I have been verbally mauled for the last 2 days! Many, many thanks James.

  2. Absolutely spot on! The wonder of it is that so many other people - talented or not - are taken in by the blackmail.