Almost 50 years ago, the American philosopher John Rawls published a celebrated account of what fairness looks like in a liberal democracy. Though scrupulous in its safeguarding of individual freedoms, Rawls’s groundbreaking A Theory of Justice incorporated an important rider. His so-called “difference principle” stipulated that resulting inequalities were justified only if they benefited the least well-off in society.
It is doubtful that Rawls would have judged the pay of Tim Steiner, the chief executive of Ocado, to fall into this category. A report by the High Pay Centre thinktank has revealed that Mr Steiner last year earned £58.7m. This astonishing rate of remuneration is 2,605 times the average wage of one of his employees, which stands at £22,500. Put another way, 24 hours of Mr Steiner’s time is allegedly worth a year’s toil from an average Ocado worker. » | Editorial | Wednesday, December 16, 2020
