Deborah Hargreaves is former business editor of the Guardian and a founder and director of the High Pay Centre, an independent think-tank that monitors executive pay.

• Foreword vi1 Who Wants To Be A Millionaire? 12 Just Deserts? 283 Why Top Pay Matters 554 Corporate Governance Fights a Losing Battle 765 What Can Be Done? 95Conclusion 124Notes 128

"Nothing is so politically alienating as the way society has lost control over obscene top pay. No-one is as trenchant – and readable – as Deborah Hargreaves in her expert analysis."—Polly Toynbee, The Guardian"In her extremely valuable book, Deborah Hargreaves demonstrates that the explosion in executive pay overwhelmingly reflects rent extraction. That is economically damaging, because performance-related pay encourages poor decision-making, and socially destructive, because it undermines the legitimacy of capitalism." —Martin Wolf, The Financial Times

Deborah Hargreaves is former business editor of the Guardian and a founder and director of the High Pay Centre, an independent think-tank that monitors executive pay.

• Foreword vi1 Who Wants To Be A Millionaire? 12 Just Deserts? 283 Why Top Pay Matters 554 Corporate Governance Fights a Losing Battle 765 What Can Be Done? 95Conclusion 124Notes 128

"Nothing is so politically alienating as the way society has lost control over obscene top pay. No-one is as trenchant – and readable – as Deborah Hargreaves in her expert analysis."—Polly Toynbee, The Guardian"In her extremely valuable book, Deborah Hargreaves demonstrates that the explosion in executive pay overwhelmingly reflects rent extraction. That is economically damaging, because performance-related pay encourages poor decision-making, and socially destructive, because it undermines the legitimacy of capitalism." —Martin Wolf, The Financial Times

Deborah Hargreaves is former business editor of the Guardian and a founder and director of the High Pay Centre, an independent think-tank that monitors executive pay.

• Foreword vi1 Who Wants To Be A Millionaire? 12 Just Deserts? 283 Why Top Pay Matters 554 Corporate Governance Fights a Losing Battle 765 What Can Be Done? 95Conclusion 124Notes 128

"Nothing is so politically alienating as the way society has lost control over obscene top pay. No-one is as trenchant – and readable – as Deborah Hargreaves in her expert analysis."—Polly Toynbee, The Guardian"In her extremely valuable book, Deborah Hargreaves demonstrates that the explosion in executive pay overwhelmingly reflects rent extraction. That is economically damaging, because performance-related pay encourages poor decision-making, and socially destructive, because it undermines the legitimacy of capitalism." —Martin Wolf, The Financial Times