Left-wing professors Paul Krugman and Robert Reich are some of the most outspoken demagogues on the subject of "income inequality," and routinely complain about the "pay gap" between CEOs and ordinary workers. For obvious reasons, they are less concerned about the pay gap between professional left-wing demagogues and ordinary CEOs.
As Mark Perry at the American Enterprise Institute has pointed out, the average CEO makes far less than the income inequality scolds would have us believe—about $178,400 to be exact, which is significantly less than what Krugman and Reich take home in a given year.
Recent Stories in Politics
Reich earns about $242,000 per year to teach one class at the University of California-Berkeley. That’s slightly more than the $225,000 the City University of New York is paying Krugman, although Krugman doesn’t have to teach a single class.
That’s on top of the money Reich and Krugman earn on the speaking circuit—about $40,000 per hour—and from media contracts that are typically worth hundreds of thousands of dollars. Krugman also earns around $300,000 as a New York Times columnist and authoritative regurgitator of pro-Democratic Party talking points.
Reich recently attacked the (oft-repeated but significantly overstated) "300-to-1" pay gap between CEO and ordinary workers in a blog post for the Harvard Business Review, in which he urges the Harvard Business School to stop teaching its students to be so greedy. He has also complained, presumably without irony, that "What someone is paid has little or no relationship to what their work is worth to society."
Paul Krugman, meanwhile, routinely fails to comprehend the world.