Nat O'Connor: We are reminded again in today's Irish Times that some people are not living in the same economy as the rest of us. Despite cuts to frontline wages, managers in manufacturing are giving themselves a pay rise of 6.5 percent.
One of the results of the recession is that it shows how contingent our economic systems are on state intervention, especially as the insurer of last resort. Today's evidence is a further reminder that, once the economic system is patched up at our expense, businesses will return to business (and profit) as usual.
So, since we are funding economic recovery by risking our money on buying bad debt from the banks, maybe it's time to start raising our voices about the need to regulate profit; for example, by linking managerial wages to those of frontline staff.