Dec. 6, 2013 Rabbi Nathan Lopes Cardozo: The Road to Faith is Paved with Uncertainty Caroline B. Glick: The Politics of Subversion Jonathan Tobin: Mandela, patron saint of Israel haters? Kimberly Lankford: How to Navigate Medicare on Your Parents' Behalf Lisa Gerstner: 6 Things to Know About Going Paperless The Kosher Gourmet by Carole Kotkin: A symphony of the always flavorful and tender mixed with the nutty, delicately sweet Dec. 4, 2013 Mordechai Schiller: The Mystery of Teddy Roosevelt's Menorahs George Friedman of Stratfor: Israel's New Strategic Position Christi Parsons: The chalice that helped make possible the Iran nuclear deal Geoffrey Mohan: OOPS! You mean men and women really are different? Kimberly Lankford: How to Navigate Medicare on Your Parents' Behalf Everything's Relative by Jordan B. "Gorf" Gorfinkel : A teaching/torture moment The Kosher Gourmet by Kathleen Purvis: The secrets to preparing perfect mashed potatoes (3 mmm-outhwatering recipes!) Dec. 2, 2013 Rabbi Moshe Grylak: Attack on Chanukah's scholar-warriors an affront to all people of faith Mark Steyn: U.S. boxes in Israel, not Iran: Surrender in Geneva Kimberly Lankford: The Lowdown on the Obamacare Health Insurance Penalty Kathy Kristof: 5 Stocks to Sell Now Karen Ansel, M.S., R.D.: How you can eat more and weigh less Jewz in the Newz by Nate Bloom: Vanessa Bayer & Jacob, the Bar Mitzvah Boy; Adam Levine, nickname "the Bear Jew," is People's Sexiest; Eastwoods Need to Say "Kinehora!" The Kosher Gourmet by Kim Ode: Fried and gone to heaven: Dense, fried Slovenian doughnut-like rolls, krofi, on Chanukah is a treat you'll want to eat all year long Nov. 27, 2013 Caroline B. Glick: The goal of Obama's foreign policy David G. Savage: 1993 religious freedom act is at heart of contraception case Jonathan Tobin: SCOTUS Gives Religious Freedom a Hearing Cameron Huddleston: Best Doorbuster Deals for Thanksgiving and Black Friday Anjelica Tan and Cameron Huddleston: 12 Things Not to Buy During the Holidays Amina Khan: Jellyfish inspire flying-robot design The Kosher Gourmet by Cathy Pollak: Thanksgiving leftovers from boring to brilliant: TURKEY-BUTTERNUT TORTILLA SOUP WITH ZESTY LIME SOUR CREAM Nov. 25, 2013 Jonathan Tobin: Ayatollahs, 1; West . . . 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Jewish World Review January 2, 2008 / 24 Teves, 5768 Greed, need and money By Walter Williams http://www.JewishWorldReview.com | Demagoguery about greedy rich people or greedy corporate executives being paid 100 or 200 times their workers' salaries is a key weapon in the politics of envy. Let's talk about greed, starting off with Merriam-Webster's definition: "a selfish and excessive desire for more of something (as money) than is needed." That definition is a bit worrisome because how does one know what a person really needs? It's something my economics students and I spend a bit of time on in the first lecture. For example, does a family really need one, two, three or four telephones? What about a dishwasher or a microwave oven? Are these excessive desires? If you say these goods are really needed, then I ask, how in the world did your great-grandmother and possibly your grandmother, not to mention most of today's world population, make it without telephones, dishwashers and microwave ovens? "Need" is a nice emotional term, but analytically, it is vacuous. "Selfish" is a bit more useful term, and it's the human motivation that gets wonderful things done. For example, I think it's wonderful that Alaskan king crab fishermen take the time and effort, often risking their lives in the cold Bering Sea, to catch king crabs that I enjoy. Do you think they make that sacrifice because they care about me? I'm betting they don't give a hoot about me. They make it possible for me to enjoy king crab legs because they want more money for themselves. How much king crab would I, and millions of others, enjoy if it all depended on human love and kindness? What about complaints about CEOs earning so much more than the average worker? Before looking at CEOs, let's look at another area of huge pay differences. According to Forbes' Celebrity 100 list, Oprah Winfrey earned $260 million. Even if her makeup person or cameraman earned $100,000, she earns thousands of times what they earn. Among the celebrities earning hundreds or thousands of times more than the people who work with them are: Steven Spielberg ($110 million), Tiger Woods ($100 million), Jay Leno ($32 million) and Dr. Phil ($30 million). According to Forbes, the top 10 celebrities and athletes earned an average of $116 million in 2004 compared to an average of $59 million earned by the top 10 corporate CEOs. When Jack Welch became General Electric's CEO in 1981, the company was worth about $14 billion. Through hiring and firing, buying and selling decisions, Welch turned the company around and when he retired 20 years later, GE was worth nearly $500 billion. What's a CEO worth for such an achievement? If Welch was paid a measly one-half of a percent of GE's increase in value, his total compensation would have come to nearly $2.5 billion, instead of the few hundred million that he actually received. If a corporate board of directors could buy a $1,000 computer that could do what a CEO does, it wouldn't pay him millions of dollars. If an NFL owner could hire a computer to make decisions that star quarterbacks make, why would he pay some of these guys yearly compensation packages worth more than $10 million? If just anybody could have played the lead role in "The Da Vinci Code" and have it earn $758 million at the box office, why would the film's producers have paid Tom Hanks $74 million? There's another important issue: If one company has an effective CEO or a team has a star quarterback, it is not the only company or team that would like to have him on the payroll. In order to keep him, he must be paid enough so that he can't be lured elsewhere. You say, "Williams, what about those golden parachutes for failing CEOs?" Paying a failed CEO, or a spouse in the case of marriage, enough money to go away quietly might be much cheaper than litigation. Every weekday JewishWorldReview.com publishes what many in the media and Washington consider "must-reading". Sign up for the daily JWR update. It's free. Just click here. Walter Williams Archives © 2006, Creators Syndicate.

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