They would do this by firing public sector workers, scapegoating teachers, closing libraries, upping tuition fees, rolling back union contracts, creating rush privatisations of public assets and decreasing pensions – mix the cocktail for where you live.
Indeed, for men, controlling for education gives private sector workers an advantage, although that disappears if police and fire sector workers (the ones most in danger) are excluded.
For a long time now, the FIRE sector, which includes the finance, insurance, and real-estate industries, has been a major source of political contributions.
Government, the FIRE sector (finance, insurance and real estate) and the mainstream economics profession deny the existence of a real estate bubble, but Australia's economic history demonstrates they occur repeatedly, with all signs pointing to one today.
The FIRE sector, including the public caught in the fallout, will surely blame government for the bust and deflect attention away from the gargantuan amount of debt pumped out by lenders.
Captured by neoliberal ideology and the FIRE sector, government has no interest in stopping this immensely profitable yet dangerous gravy train, having enriched the already wealthy beyond avarice through privatisation of unearned economic rents rather than productive activity.
Because compensation has a big component of stock, yearly compensation fluctuates a lot in the FIRE sector and is highly skewed.
Secondly, stock-holding represents a higher percentage of total wealth for the FIRE sector, which is consistent with the better alignment of incentives.
Median CEO wealth in the FIRE sector is considerably higher than in the other sectors, a fact that confirms the impression that most people have that the rewards are highest in financial sector jobs.
The striking result is that in the FIRE sector, CEO wealth is far less sensitive to changes in shareholder value than in any other sector this in spite of the fact that equity holdings are a more important component of compensation.
