The highly regulated, protectionist Japanese economy, and an overall collectivist culture, leaves little room for flexibility in executive pay. This makes Japanese businesses less competitive, and work life more miserable.
John Rawls claimed "justice" demands governments use their power to benefit the least well off in a given society. But then he arbitrarily restricts the scope of these programs to particular nation-states. This betrays a fundamental problem with his idea of inequality.
In the blurry world of conflicting economic indicators and forecasts and policy surprises, activist policymakers at the Fed do not know exactly what the “right” monetary policy is today. Neither do their activist critics.