Read the following extract and discuss the question that follows.
An annual review by Income Data Services showed that the average total earnings of the chief executives of the FTSE 100 companies – the UK’s 100 largest quoted companies – in 2005-06 were £2m.
By contrast, the gross median pay for full-time British employees was £23,600, so the typical FTSE 100 boss earned 75.2 times what the typical employee was paid, and just one year’s pay rise for that typical boss was £400,000, equivalent to 17 times the total pay of the typical employee. In comparison, the ratio of bosses’ pay to that of the employee in 1989 was 19:1. In the USA, chief executives earn 300 times what the average US worker makes.
However, those who run the largest companies are not by any means the best paid in the UK. The highest-earning elite members are to a large extent to be found in the financial sector, as leaders of private equity firms and hedge-funds.
Here, a combination of globalisation and a technological revolution has allowed a talent for making money to be rewarded in ways that are breaking all known barriers.
Often hundreds of millions of pounds are gained by such individuals, largely by borrowing money and then speculating with it to buy whole companies that are undervalued, or to trade in complex new financial products.
Adapted from Robert Peston, Who Runs Britain? Hodder 2008
Question: Suggest four ways in which the extract above supports the Marxist view of postmodernity.
