Modern capitalism is at a moral dead end. And the bosses are to blame

From Will Hutton’s article in The Observer this Sunday:

… modern capitalism has arrived at a moral dead end, interested largely in feathering the nests of its leaders while imposing enormous costs on the rest of society and accepting no reciprocal obligations. Neither Lewis nor Arup (1) would have dreamt of needing to be paid 81 times the salary of an average worker (2) to do their job or of investing a nanosecond in trying to evade or avoid tax. They aimed to build enduring innovative organisations and to do so was a matter of enormous satisfaction in itself.

1. Ove Arup, founder of one of the Arup Partnership and John Spedan Lewis, founder of John Lewis
2. Chief executives were paid 47 times average pay in 2000; today, they are paid 81 times the average.