The Swiss in their collective wisdom have voted to have the State determine the limits on executive salaries paid in privately held companies.
Once you have opened this door, where does it stop? After ceding the right to determine executive salary caps to a faceless bureaucrat, what makes the Swiss think they will stop there? No doubt there will be other industries and professions where the State considers the participants to be overpaid, and worthy of regulation.
This is yet another attempt to implement State mandated ‘equality’ or ‘fairness’ that is destined to fail. It is not possible for this kind of ‘fairness’ legislation to take into account all the variations that exist in the market, that go towards the makeup of executive salaries.
However the Swiss can now look forward to enjoying both minimum pay rates and maximum pay rates determined by the State as part of an increasing intrusion of Government into privately held companies and the market economy.