Click here to access article by economist David Ruccio from his blog Occasional Links & Commentary.
"Who are the capitalists?" the professor asks his students. I give the professor a "D" for his answer. Any definition has, of course, an element of arbitrariness to it, but this is especially true when dealing with amounts of income from capital, and even more-so when looking at compensation for boards of directors. I think I can do better. A capitalist is anyone whose income is substantially from the ownership of capital or property.
What I think he describes, if we focus on major financial as well as industrial corporations, is a capitalist ruling class. The amounts they receive on these boards is usually quite inconsequential to their total income. Often it is pocket change to them. Still I believe the subject is well worth thinking about.
