1006G【Ivy】的备考日记——既然选择了远方，便只顾风雨兼程

zhengchangdianUID: 2563082

来踩踩哈！楼主要加油哦，别忘记安排好考前复习自己提纲的时间哦:lol

AdelineShenUID: 2630498

lz很用功，加油！~

aladdin.ivyUID: 2596664

来踩踩哈！楼主要加油哦，别忘记安排好考前复习自己提纲的时间哦:lol
zhengchangdian 发表于 2009-12-18 00:02

真温暖！谢谢！加油！

aladdin.ivyUID: 2596664

lz很用功，加油！~
AdelineShen 发表于 2009-12-18 00:08

简单一句加油，给我无限动力！一起加油！

aladdin.ivyUID: 2596664

12月18日
comments：
First, I want to talk about the structure of this special report about climate changes of The Economist. At the beginning, the speaker cites both the severity of global warming problem as well as the importance of this conference in Copenhagen by describing the situation of pest outbreak and sea-level rise. Then he/she points that through the politic ways could we solve this worldwide problems, rather than technological or economical ways. At last, the author claims that although it is difficult for most of the countries of the world to meet the agreement for a particular negotiation, which could deal with the global warming problem effectively and efficiently. The trend to get to the threshold of a global agreement is a good start.

Now I will assert my owe view about the reasons why it is difficult to make out an agreement that could acceptable by most of the country.

For developed countries, the development of the economy is contradicted with the low CO2 emission as the promotion of many pillar industries of these countries, such as automotive industry, are accompanied by the high CO2 emission level. Thus, it seems impossible for governments to give up the development of those industries, because their recession would undoubtedly affect the development of the related industries. For instance, the recession of automotive industry would make negative impact on iron and steel industry as well as rubber industry.

For underdevelopment countries, since their low industry level make less responsible for the problem of global warming, and the cost on the problem solving throughout the world is inevitable. It seems that to find a balance point of expenditure ratio for all the countries is a difficult task. And new problems, such as the dates’ authenticity, will appear if we determine the proportion of the cost merely by the amount of CO2 emission of each country.

By and large, in the long journey of global climate condition improvement, this conference is just a beginning step. To reach the goals, we still have a long way to go.

aladdin.ivyUID: 2596664

这评论写的明显感觉语言匮乏啊~！

aladdin.ivyUID: 2596664

12月19日
Suspended animation:
1 the states of being alive but not conscious or active.
2 A feeling that you cannot do anything because you are waiting for something to happen.

Honestly, I cannot catch the point of this report after my first reading of it, because I mistakenly consider the first sentence -The art market has suffered from the recession, but globalization should help it recover- as the main idea of this article. In fact, this report has been naturally divided into five parts.

1 The current downturn of art market of the world, and the difference between this slump and the last.

2 reasons why the key of bouncing back of art-market lies in globalization.

3 A handful of individuals who have emerged as the key figures in the art world in recent years makes the tastes of masters in the art universe changed.

4 which way we should use to sell art works, through public auction houses or private dealers.

5 The current changes of auction houses and prediction in the future.

Since I am not that familiar with art market, I want to summarize the reasons why globalization could recover the recession. First, as some parts of the world became relatively richer, especially in Russia, India, China and the Middle East, and many of these new buyers take a particular interest in the art of their own place and time. Spreading art market to the range of worldwide could make dealers gain more wealth. Second, since the number of museums throughout the world, which is a huge extra demand of art works, has increase. Focusing the market only in original hot areas, such as America and Europe, is not a wise choice. Also, the fact that many lesser-known artists in the world become popular, and everyone wants an iconic work make dealers broad their business to all the corners of the world.

sunflower_irisUID: 2720580

111# aladdin.ivy
我写的那才叫一个匮乏，就感觉使不上力气似的。
你很棒啦，继续加油吧:loveliness:

aladdin.ivyUID: 2596664

12月20日

关于A的开头，看了66的帖子，很好。贴上来
记得以前贴过的，翻不到了，干脆都挪到第一页吧

浪迹作文版也有差不多快3个月了，不断的从前人那里拿出资料和心得来充实自己而不主动的贡献一点东西，时常也有那么一些“不劳而获的感觉真好，难怪贪婪是罪”的想法。然而3个月的100 percent的准备，（我相信这个时间跨度比这里绝大多数板油的准备GRE时间还长了） 也让我有了不少的个人心得，我一直认为，有了想法却窝藏是一件很浪费的事情，我们的爷爷的爷爷的爷爷….说的好：“一个想法的分享，等于千万个灵感的诞生”。我不敢说下面我要写的东西究竟符合ETS的兴趣与否 --- 实际上ETS的兴趣到底是什么，到底喜欢怎么样的文章，到底扣分都扣在什么些地方，我想除了ETS自己，没有任何人能够说的清楚 --- 然而作为弱势群体的考生，哪怕只有1%的可能性被扣分，也应当付出100%的努力去避免，这个才是取胜和高分之道，同时也期望着各位看了我的这些想法以后，对Argument能有一些启示，那么我就真的没有白写这么个东西。

陆陆续续的Argument也写掉了20来篇了，从最开始的照着范文写直到抛开范文红着脸来憋，每一个字感觉都是一种折磨，再到现在头痛时间的问题，一些很有趣的问题就在我脑中不断的盘旋和缠绕，其中的第一个就是开头问题。如何开头？如何在短的时间内吸引到阅卷人的良好印象?曾经当我在对如何下笔开始argument一筹莫展之际，翻遍了AW精华区，也没有找到答案，当时一度令我很沮丧：大家都不屑于讨论的一个东西，居然就把我给难倒了，我也别去考什么GRE了，回家去农妇山泉有点田吧。直到最近当我回头，总结掉我所写过的所有argument以后，我才发现了一个草率的开头可能是绝大多数XDF型同学们忽略掉的一个最大的扣分点。

一个开头对于行文有什么帮助？Argument的开头到底要表达一些什么信息？开头，类似于每一段话的TS一样，应当是全文的TS,一个好的开头不仅能够让ETS老师迅速的抓住你的思维结构和逻辑论证过程，而且能够使自己的下文论述更加充分。很多同学都会在不知不觉当中发现自己的论证开始偏离题目的要求，尤其是在举出可能性的时候，经常有的可能性让人一头雾水，或者让人感觉到过于极端，这就是没有一开始就理顺文章的逻辑的结果。如果我说：argument开头是最不能忽视的，我想，经过了XDF洗脑的同学们第一时间就会呸我两口：开头结尾一共写5分钟，照着模板套套写完就行了，哪里用去想？然而，大错特错。 先不要着急扔鸡蛋，为了弄清楚这个问题的实质，我最近拾起了让我最反胃的模板，仔仔细细的研究了一番它们的开头。给我的结论是：一无是处。

常见的模板开头一般是两种类型：

1直截了当，这种模板通常的方式就是 In this argument, the author concludes that… however, it suffers from several logical flaws. 简单实用吧，然而，除了告诉阅卷人：我开始行文了！以外，这种开头还有别的用处么？当ETS的老师批的头晕脑胀四肢发慌的时候，流水线一般出现在他面前的居然是几百几千份这种工厂里面出来的开头，看着就倒胃口的压缩食品，他会怎么想？“你说的东西没错，但是除了几个单词以外，实在是看不出什么内容，真TM恶心。”估计当时给你的文章档次就压了一级。更何况，ETS提倡的是思维的展现，不是你打字的速度，更不是你抄写的能力，这种开头如何能够配得上高分？可笑的是新东方的老师们，一遍一遍的强调着：开头要简洁，一句话足矣，时间用的越少越好。来给广大的中国考生洗脑，被洗脑的考生们又把这种思想开始淳淳善诱师弟师妹们，造成了现在的普遍的错觉：开头不重要。时代在变化，ETS 的胃口也在变化，然而这种理念持续了足足有8年之久或者更长，却从来没有变过。无怪乎最近两年的AW成绩普遍的开始下降，细小之处就能看出端倪来。

2固定逻辑式，这种模板的表述一般来说是：In this argument, the author concludes that… To support the conclusion, the arguer points out that … and provides the evidence that … A careful examination of this argument would reveal how groundless the conclusion is.
对于这类型的开头，从本意来看，比第一种强多了，但也会是最大的败笔之处。因为令人遗憾的是，绝大多数的同学们使用这种开头的目的，不是为了理清楚题目的逻辑关系，而是为了凑字数，他们忘记了思考，一种务必要贯穿整个写作过程的speculation. 为了方便的说明我的观点，特地找了一篇这样的模板型开头，感谢flyex童鞋.

38.Thefollowing memo appeared in the newsletter of the West Meria Public Health Council.

"An innovative treatment has come to our attention that promises to significantly reduce absenteeism in our schools and workplaces. A study reports that in nearby East Meria, where fish consumption is very high, people visit the doctor only once or twice per year for the treatment of colds. Clearly, eating a substantial amount of fish can prevent colds. Since colds are the reason most frequently given for absences from school and work, we recommend the daily use of Ichthaid, a nutritional supplement derived from fish oil, as a good way to prevent colds and lower absenteeism."

In this argument, the arguer concludes that daily use of lchthaid will help people to prevent colds and lower absenteeism. To support this conclusion, the arguer cites the evidence that in East Meria, people seldom to the hospital for the treatment of colds because of the high consumption of fish in that place. Carefully examination of this supporting evidence, however, reveals that it lends little credible support to the arguer’s suggestion.

我想，很多童鞋当写完这么一个开头的时候，下了考场自我感觉都会非常的良好，觉得4分在手了，内容写的稍微全面一点的话，5分也不在话下，那么我现在告诉大家，这样的开头，其实是彻底的失败，从内容表达上来说，这个开头只值3分或者更低。不信？看我接下来的说法。

我们先来分析一下文章的结构：(à表示推出)
A study reports that in nearby East Meria, where fish consumption is very high, people visit the doctor only once or twice per year for the treatment of colds
通过这句话，我们能够发现作者的第一步推理：study reports(已知) à EM的人为感冒而看医生较少是 indeed exist.（推理1） à EM的人感冒少（推理2）
Clearly, eating a substantial amount of fish can prevent colds.
这句话可以得出第二部推理：这种现象（推理2）+ 鱼类消费高（事实1） à 鱼类对这种现象有帮助（推理3） à 鱼类的某种物质对抑制感冒有帮助（推理4）
Since colds are the reason most frequently given for absences from school and work, we recommend the daily use of Ichthaid, a nutritional supplement derived from fish oil, as a good way to prevent colds and lower absenteeism."
然后下一个推论：感冒是主要的旷工借口（事实2） à 感冒是主要的旷工原因（推论5）+ 推论4 à 鱼类的某种物质可以抑制感冒，减少旷工。（推论6）à 鱼油中提炼的营养品可以抑制感冒，减少旷工（推论7）
最后是结论：推论7 à 吃这种营养品可以预防感冒，减少旷工（结论）

实际上，是这么多步奏的推论和隐含前提的共同作用，才得出这么个荒谬的结果，而上面那位童鞋仅仅把得出结论的原因归咎为：the evidence that in East Meria, people seldom to the hospital for the treatment of colds because of the high consumption of fish in that place. 当ETS老师看到这样的开头的时候，第一个反应估计就是：这个人题都没读懂就开始瞎写。自然后面的评价不会高到哪儿去。

那么，一个好的开头究竟应当有些什么内容？

正如我上文提到的，开头的最大的作用应该在于帮助写作的时候理清文章的脉络，一个好的开头应该就是一个文章的缩影，应该给阅卷的老师三个直观的印象：1. 这些逻辑点确实是来自于文章的抽象2. 这个学生抓的逻辑点都是正确的。3.从这些逻辑点的顺序当中可以猜测到该生的正文论证顺序。

仍然举上面那篇argument为例子，当最开始看到题一步步阅读的时候，脑子里面就应该开始抽象出一些作者的推论了，或许大家都不能第一遍看完就列出我上面写的那么详细的多步推论，（就连我自己也不行…）然而，大概的推论过程应该在你的脑子里面很清醒的展现出来，比如类似这样的缩略版：

Study à 感冒的人少
感冒的人少+吃鱼多 à鱼里面有物质对感冒有效
鱼对感冒有效+感冒是第一请假理由 à 吃鱼油可以避免请假

我想，在短短的1分钟内，能够理论这么一个思路，就足够了，ETS的老师也明白你不可能再30分钟的时间里面面俱到，但是你有了这样的思维，至少就和其他的上来就开始套模板的开头不一样了，接下来我们可以这样开头：

Grounding on the study in East Meria, supposing that eating a substantial amount of fish can prevent colds, and then synthesizing the two hypothesizes and another factor that colds are the reason most frequently given for absences from school and work, the author accordingly suggests that the daily use of Ichthaid is a good way to prevent colds and lower absenteeism. However …

类似这样的开头，首先并不花时间，因为除了一些连词和动词以外，大部分都是照抄原文，经过简单的练习以后，绝对能够在3分钟之内搞定，然而，它的价值却比模板高的多。当ETS拿到这么一个开头的时候，首先他必然会对你的综合能力感到满意，因为这些逻辑关系，的确是文章当中提到的，也是顺理成章的关系；其次你在这样一个开头里面传达了一个信息：我接下来要批的东西，已经都在这个开头里面啦。老师们都是很有经验的，很容易就能看出你这篇A，主要批的是三个东西：1.study的真实性，代表性或者全面性, 2. 那个supposing的合理性, 3.综合结论的谬误。接下来他们在读你的正文的时候，自然而然会有一种感觉：这个学生的逻辑性不错，至少段落之间，是绝对没有问题的，因为他的开头已经告诉了我，他的批判是按照逻辑来的。

我没有想过提供更多可借鉴的东西，更不希望大家把我给的那个开头的例子总结成某个新的模板，我更希望通过这篇不算太长的文章传递一种新的，有别于XDF的思想，模板是我一直痛恨的东西，机缘巧合之下我也没有去成XDF，算是我的不幸，因为我必须用比别人更长的时间来入门，也算我的幸运，因为我的内心深处的思想是自由的，没有受到任何拘束。当我写的文章多了，我自己也有了固定的表达方式，我不知道这算不算是我的模板，会不会阻碍我的进步，但我知道自己在不停的思考，不停的试图从每一微小的方面提高，满足ETS那变态的要求。常言道：“授人以鱼不如授人以渔”，不可否认，新东方和一些其他的陈旧思维在速成和入门方面，的确是做出了不可磨灭的贡献。然而，写作是一门艺术，端正写作的态度更是一种财富，当大家都开始蜂拥的追求更快更方便的途径的时候，ETS关闭了高分的大门，唯有不停的思考，不停的总结，才能够返璞归真，真正懂得：考试的目的不是折磨人，而是一种化蝶前的蜕变。

aladdin.ivyUID: 2596664

As the topic statement in today’s report—the relationship between China and America-- is a hot issue, which I am interested in, and the length of the article is relatively shorter than the last two’s, I finished it rapidly.

First, I would like to talk about my feelings after three days’ reading of The Economist. I found that although there are a large amount of viewpoints would be elaborate, most of which have been well reasoned and supported by quoting some distinguished words or facts within the author’s reasoning. Moreover, the most distinct difference between those reports and our writing works is that there are few empty talks and polite formulas appeared in official articles which were, contrarily, frequently used by us in our writings. Each time you go over a special report, it is a kind of enjoy for their coherent expresses, insightful and in-depth analysis of complex ideas as well as the skillfully use of sentences variety and precise choice of vocabularies. All these merits deserve us to learn and apply in our future writings.

Now, let me move back to this report. With America’s economy in tatters and China’s still growing fast, both countries need each other, as is said by James Miles, and it seems that the biggest barrier facing by two countries is that they dare not to thrust each other. However, in my point of view, there does not exist such a thrust problem not only between these two countries, also other countries throughout the world. As is known to all, the aim of any co-operation for both sides is to gain some benefit from it, hence a win-win situation. Thus, the original problem beneath the thrust is that both countries cannot assure they could gain those benefits which they expected in the beginning via the co-operation. Since China have different cultures, systems as well as ideologies with America, America reckon with that they could not given the real data of China in military area, meanwhile, China could not guarantee American could Straighten out the attitude of other countries. Through a co-operation, to some extent, both country would receive some benefits, at the same time, they are facing with the hazard of disadvantages. As a result of both country is not sure weather the advantages could overweigh the disadvantages, the co-operation between the two countries is still a long time of mutual understanding and communication.

aladdin.ivyUID: 2596664

12月21日
comments
What kind of psychological state are you in when suffering the economic crisis, have you ever feel confused by this recessionary economy, atrophied stock market as well as the increasing unemployed rate which were wrought by the financial breakdown? Have you ever thought about why could this happen. Someone might have told you that the reason of all above is the International economy crisis, and you thought that may be true or that should be true. However, after half year since the crisis begins, the economy of America still under the negative impact of it, while, at the same time, the price of China’s property market have gradually goes up during the first half of 2009, so dose prices of Chinese stock market from the end of 2008, from which might make you reckon that China is passing away form this crises and bring you some kind of hope. But from August 2009, Chinese property and stock market seems have less power than before for a consistency increasing. Then you found that the China's economy has not recovered from this crisis, the crisis seems to have passed, yet, previous economic prosperity also passes away from you.
In fact, the nature of economy depression is not the bleak of hundreds businesses and widespread unemployed that simple. On the contrary, depression era is an era full of opportunities. However, these opportunities are not widely available, but hidden in some special areas and waiting for who set his mind to explore.

aladdin.ivyUID: 2596664

今天收到了寄来演唱会门票的快递，happy哇~！
赶快补论文~明天就是deadline~

aladdin.ivyUID: 2596664

12月22日

comments

As completing this health-care reform bill, whose aim is make every American have health-insurance, the first substantive task facing by President Barack Obama. The passage of the bill would be so crucial a transition point that it might determine Obama’s future policy history.  At present, analysts pointed out that, Obama faces a difficult dilemma in the process of promoting this reform. If he adhere to the timetable according to his own plan for the implementation of the reform, he likely to lose the support form the Republicans even from the inner Democratic Party, which become a stumbling block for the implement of Obama’s future policies. However, if the Congress to act according to their timetable, this medical reform will certainly not be implemented within this year, thus, that will make Obama’s difficult to govern by a plummeted popularity.

This reform, said by BTV news- a official news program, will bring benefit only for 15% of American people, and most cost, $900 billion over the next ten years, of improving this reform would bring from those taxpayers who do have health-insurances. Although it is nearer and nearer, as the title of this report said, to the moment when a health-care reform bill passed out of the Senate, with the fact that 52% American people disagree to implement this health-care reform, whether Barack Obama will get what he wanted for Christmas remains to be seen.

aladdin.ivyUID: 2596664

12月23日
I have read most of today's eco, keep on fighting~

aladdin.ivyUID: 2596664

Executive主管领导 pay

This house国会，美国众议院 believes that on the whole总的来说，大体上, senior executives are worth what they are paid


About this debate

Over the past few decades executive pay has risen dramatically. Bosses who were once paid ten times as much as shopfloor workers are now sometimes paid as much as 300 times as much. This trend was never popular, even during good times. But today it is becoming radioactive放射性的，有辐射的, as governments step in to rescue failing companies and ordinary people are forced to tighten their belts.

Is the anger怒火 justified? Some argue that executive pay is a long-standing存在已久的 disgrace耻辱. Pay is often not tethered栓 to performance. Huge rewards报酬 for the few demotivate使失去动力，使变得消极 the rest of the workforce. Others are more sanguine=optimistic充满信心的，乐观的. Successful executives, such as Jack Welch, former CEO of General Electric, can add hugely to a firm's profitability, benefiting workers, managers and shareholders股东 alike. The growing pay of executives has to be balanced against the growing difficulty of their jobs, particularly as turnover一定时期内的营业额，成交量 in the boardroom董事会会议室 increases.

Opening开场 statements

Defending防御 the motion

Steven N. Kaplan Neubauer Family Prof. of Entrepreneurship & Finance, University of Chicago Booth School of Business

In the United States, the United Kingdom and elsewhere, CEOs are routinely criticised for being overpaid.
很多地方都批评高管工资过高

Against the motion提议，移动

Nell Minow Editor and Co-founder, The Corporate Library

Excessive过度的，过分的
executive compensation补偿金 of the past decade is both a symptom征兆 and a cause of the current economic mess困境，混乱.
恶性循环

The moderator's 调节人，仲裁人opening remarks

Oct 20th 2009 |
Adrian Wooldridge

One of the few things that anti-globalisation campaigners运动领导者 and stock market investors agree upon is that executive pay is out of control.
It is not hard to understand this shared共有的 outrage愤怒: executive pay has exploded分解的 since the 1980s. For most of the postwar era executives earned a few multiples倍数，数量多的 of the median中间值，中位数 pay. But thereafter此后, starting in America and slowly spreading to the rest of the world, the multiples increased exponentially指数的，幂的. Today many American workers earn in a year what their boss takes home in an evening.
Isn't this a disgrace? Critics of executive pay worry that even mediocre平庸的，普通的，平常的
bosses are given outsized较大的，超过一般型号的 rewards. Robert Nardelli received a $20m pay-off when he left Home Depot even though the share price had fallen during his six-year tenure任期. Carly Fiorina was $180m better off经济较宽欲 when she left Hewlett-Packard despite a lack lustre光辉，荣耀 tenure. Defenders of executive pay argue that great bosses such as Louis Gerstner, the former boss of IBM, and Jack Welch, the former boss of General Electric, are worth every penny because they create huge amounts of wealth for both shareholders and employees.
The debate about executive pay, though never cool, is particularly hot at the moment. Workers have been squeezed挤压 by the recession. Unemployment is approaching 10% in the United States and much higher numbers in many other countries. Numerous governments are planning to deal with their rising deficits赤字 by freezing public-sector pay. And yet many bosses and bankers continue to make out应对
like bandits土匪—or so lots of people think.
普通的高管也有较高的收入
We are lucky to have two of the best people in the business to debate this subject. Steven Kaplan, who proposes建议，提出解释 the motion, teaches at the University of Chicago's Booth School of Business. Nell Minow, who opposes it, is a long-time shareholder activist and chairwoman of the Corporate Library, are search company. (For people who want to know more about her she is also the subject of a profile in a recent issue of the New Yorker.)
开始辩论
Mr. Kaplan starts off展开，开始活动
by making two fundamental points. CEO pay has not gone up in recent years; indeed, it has been dropping since 2000, particularly in relation to other well-paid groups, such as hedge拐弯抹角 fund managers, lawyers, consultants and professional athletes. Nor is CEO pay unrelated to performance. Boards are increasingly越来越多地 willing to fire CEOs for poor performance.
说高管远没有猎头公司找的其他高薪职位工资高
Ms. Minow focuses heavily on the relationship between pay and the recent credit crunch不足，紧要关头，短缺. She points out that executive pay helped to create the mess in the first place: Countrywide's CEO, Angelo Mozillo, made more than $550m during his time in office. She also points out that the fact that many companies that were bailed out保释 by the government continue to pay their CEOs huge salaries and bonuses宏利，意外收获
is damaging the credibility of the system.
关注于工资和信用不足的关系，很多高管，即使公司被保释，也有很多红利
Such bold大胆自信的 opening statements raise questions galore很多. Is Mr. Kaplan justified in starting his account in 2000 rather than 1980, when executive pay exploded分解的. And is Ms Minow right to concentrate so heavily on the financial sector? These are only a couple of the questions that we need to thrash out研讨解决，研讨获得 in the coming days.


The proposer's opening remarks
Oct 20th 2009 |
Steven N. Kaplan

In the United States, the United Kingdom and elsewhere, CEOs are routinely criticised for being overpaid. Critics argue that boards do not respond to对……有反应 market forces, but, instead, are dominated by or are over-generous慷慨 to their CEOs. Boards are criticised for not tying CEOs' pay to performance可数？. These criticisms have been exacerbated使恶化，使加重 by the financial crisis and the desire to find scapegoats替罪羊，待人受过者.
I argue below that the critics are wrong and that there are many misperceptions错误的知觉，感知，见解，看法
of CEO pay. While CEO pay practices are not perfect, they are driven by market forces and performance. Contrary to public perception, CEO pay has not gone up in recent years. In fact, the average CEO pay (adjusted for inflation) has dropped since 2000, while the pay of other groups has increased substantially. Similarly, the view that CEOs are not paid for performance is wrong. In fact, the opposite is true and boards increasingly fire them for poor performance. And, most recently, consistent持续的 with market forces driving pay, the US and UK governments each hired a new CEO (of AIG and the Royal Bank of Scotland) for pay exceeding超过的 that（pay） of the median中间值 large company CEO.中间为啥没of
It is useful to understand how CEO pay is measured. It includes three components: salary, bonus and stock-based pay. It is usually measured in two ways. The first is the sum of salary, bonus, restricted有限的，很小的 stock and the expected value of stock options选择权. I call this expected pay. Expected pay measures what boards believe they awarded the CEO. This is the best measure of what a CEO is paid each year. Note that the CEO does not actually walk away with轻易取胜，情意获得 this money. The second measure replaces expected stock option values with values actually realized and realized pay measures what CEOs walk away with.
The first graph shows average and median expected CEO pay for S&P 500 CEOs since 1994 (adjusted for inflation). It shows that median CEO pay has been stable since 2001; it has not increased. And average pay has declined substantially. In fact, average CEO pay in 2008 is below the average in 1998.平均值和中间值如何计算
While average CEO pay has declined, the pay of other highly paid groups has increased. The second graph shows S&P 500 CEO pay relative to the income of the top 1% of US taxpayers. Relative to those other groups, CEOs are no better off in 2008 than in 1994. Strikingly, relative CEO pay is a half of what it was in 2001, a huge decline.
Which are those groups that have earned increasingly high compensation? Hedge fund, private equity公司的股本 and venture capital investors have increased their assets资产 and fees substantially, translating into high pay. By one estimate, the top three hedge fund managers earned more in 2007 than all 500 S&P 500 CEOs combined. Professional athletes, investment bankers, consultants and lawyers also have benefited greatly. For example, from 2004 to 2008, the inflation-adjusted pay of partners合伙人 at the top 20 law firms increased by 12% while that of S&P 500 CEOs dropped 12%. Those law firms had over 3,000 partners making an average of $2.4m each.
One can look at the Obama administration for other examples. Larry Summers made $8m (more than the median S&P 500 CEO) giving speeches and working part-time for a hedge fund. Eric Holder made $3.5m as a law partner.
So, while CEOs earn a lot, they are not unique. The pay of people in the other groups has undoubtedly been driven by market forces; all are compensated in arm's-length markets, not by cronies好友，密友. Technology, globalisation and scale appear to have increased the market value of these groups. CEOs have not done better and, by some measures, have done worse. Those who argue CEOs are overpaid have to explain how CEOs can be overpaid and not subject to受管制，容易遭受 market forces, when the other groups are paid at least as well and are subject to market forces.
Why is the pay of these other groups relevant for CEOs? Top executives regularly leave to work for private equity firms and hedge funds. Law partners and consultants leave to work for public companies as general counsels律师 and executives. Relative pay matters and all these groups are paid according to market demand. Markets are the driving force for senior executives in all these industries and talented people jump across industries, based on market perceptions of their worth.
Critics also argue that CEO pay is not tied to stock performance. Again, that is not true. Looking at what CEOs actually receive—realised pay—Josh Rauh and I found that firms with CEOs in the top decile十位数
of realised pay earned stock returns 90% above those of other firms in their industries over the previous five years. Firms with CEOs in the bottom decile of realised pay under performed by almost 40%. The typical CEO is paid for performance.
This was reinforced加固，更强大 in 2008, when average realised CEO pay declined by 25%(according to S&P's Exec经理 comp补偿). And Equilar, another provider of CEO pay data, estimated that the typical CEO experienced a net worth decline of over 40%.
The final myth神话 to bust下降 is that CEOs control their boards and earn high pay through this control and not performance. In fact, CEO tenure has declined, from ten years in the 1970s to six years today, and boards have got tougher困难 on their executives when they do not perform.
In sum, market forces govern CEO compensation. CEOs are paid what they are worth. Talented individuals, who are perceived to be valuable, can move between industries to be compensated well. The clearest example of this is that even governments have to pay highly for talented executives. Recently, the Royal Bank of Scotland (under UK government control) hired a CEO with a package worth up to $16m; AIG (under US government control) hired a CEO with a package worth up to $10.5m. For these critical jobs, both of these executives received compensation exceeding the pay of the median S&P 500 CEO.


The opposition's opening remarks
Oct 20th 2009 | Nell Minow

Excessive executive compensation of the past decade is both a symptom and a cause of the current economic mess. And the post-meltdown awards are all but guaranteed to continue to create perverse incentives that will reward management and further damage the interests of shareholders and every other participant in the economy.
Incentive compensation rewarded executives for the quantity of transactions事物 rather than the quality of transactions. It inevitably led to failures like the subprime disaster and the dominoes it toppled as it took the economy down with it. Worst of all, the avalanche of post-bailout bonuses and departure packages like the $53m Ken Lewis got from Bank of America have severely damaged the credibility of Wall Street and the American financial markets as a whole. The billions of dollars of losses do not come close to the reputational hit to American capitalism, which will increase the cost of capital for all US companies.
Panglossian observers will always be able to find some metric to justify any level of pay. But the results speak for themselves. The decisions that led to the meltdown were made by executives who knew that they would be paid tens, even hundreds of millions of dollars no matter how successful the consequences of those decisions.
Let us look at ground zero of the subprime mess, Countrywide, where Angelo Mozilo made more than $550m during his time as CEO. When the compensation committee tried to object to his pay levels, he hired another compensation consultant, paid for by the shareholders, to push them into giving him more. He also pushed for, and was given, shareholder subsidies, not just for his wife's travel on the corporate jet but for the taxes on the imputed income from that travel. Instead of telling Mr. Mozilo that he had no business asking the shareholders to subsidise his taxes, the board meekly signed off on it, making it clear to everyone in the executive suite that the pay-performance link was not a priority.
By the end of 2007, when Countrywide finally revealed the losses it had previously obscured, shareholders lost more than 78% of their investment value. Meanwhile, in early 2007 Mr Mozilo sold over $127m in exercised stock options before July 24th 2007, when he announced a $388m write-down on profits. Before the bailout, Countrywide narrowly avoided bankruptcy by taking out an emergency loan of $11 billion from a group of banks. Mr Mozilo continued to sell off shares, and by the end of 2007 he had sold an additional $30m in exercised stock options. There is the definition of outrageously excessive compensation.