Why We Get What We Deserve (The Remix)
Almost a year ago, myself and my co-host of 2 Dope Boys & a Podcast, Michael Brooks wrote an article titled “Why We Get What We Deserve”. In it, we derided (among others) Martin Shkreli, infamous former CEO of biotech company Turing Pharmaceuticals. Shkreli unapologetically raised the price of one of their HIV drugs 6000% and reveled in his role as real life villain. Now the far less colorful CEO of Mylan, Heather Bresch, came under similar fire for a 600% increase in the price of their signature drug EpiPen. Bresch, now enters the rogues gallery, of CEOs, who even in an environment defined by structural inequality and corporate misconduct, stand out for reckless endangerment of public health and well being.
Of course, Bresch defended her decision to raise prices, appearing on CNBC with the protestation that she was “running a business”, as if this somehow was an explanation for her short term decision making, In fact, running a business has become the corporate version of “just following orders”. A blanket statement designed to justify amoral, short term and greed fueled decision making. At the same time, Bresch was raising the price of EpiPen her salary was experiencing a similar spike. As EpiPen’s price rose 400%, Bresch’s salary rose 600% over the same time period. Clearly she is directly incentivized to maximum the short term goals of the company at the benefit of her salary. This is a phenomenon discussed by Rana Faroohar in her new book “Makers and Takers: The Rise of Finance and the Fall of American Business”.
CEO’s are not rewarded to take chances and develop new technologies. They are rewarded to boost shareholder value even if that value is short term in nature. Their compensation and stock options are wired in such a way as to make this behavior the norm and this is what we have to confront when examining the action and ensuing rationale of Mylan CEO Heather Bresch.
Given the incredible reward via high salaries how do we break this cycle? A dramatic shift in the way business is conducted is necessary in order to make the Martin Shkreli’s and Heather Bresch’s obsolete. A systemic commitment to a long term outlook rather than a quarter by quarter Wall Street perspective. Developing the capacity for empathic tools to develop within organizations to help executives make decisions with a love centered thinking at its core.
This of course goes far beyond the ritual roasting of a couple of select sleazy pharma CEOs (although it is fun). Instead we need to hack Capitalism, the money system and corporate governance to redesign the system itself. Let’s start addressing causes not just symptoms.
The Deep Dive
- Episode 205: Running Out of Everything w/ Peter S. Goodman November 21, 2024Philip welcomes global economic correspondent for The New York Times Peter S. Goodman to the show to discuss his new book How The World Ran out of Everything: Inside the Global Supply Chain. In this conversation they look at the fragility of the global supply chain and what it means for our long term economic, […]
- Episode 204: Making New Worlds w/ Aida Mariam Davis November 7, 2024Philip welcomes writer/scholar Aida Mariam Davis to discuss her latest book Kindred Creation: Parables and Paradigms for Freedom. In their wide ranging conversation they explore how building ties of kinship and surfacing varying knowledge systems can make new worlds possible. The Drop – The segment of the show where Philip and his guest share tasty […]
- Episode 203: Leadership & Making a Masterpiece w/ Charles Spinosa October 31, 2024Philip welcome Charles Spinosa, author Leadership As Masterpiece Creation to The Deep Dive. In their conversation, they discuss what it means to be a leader, how we organize ourselves and what it looks like when masterpiece language and thinking applies itself to our work. The Drop – The segment of the show where Philip and […]
- Episode 202: Solving the Climate Crisis w/ John Berger October 24, 2024In this episode of The Deep Dive, Philip welcomes John Berger, the author of Solving the Climate Crisis. In this conversation, they examine the growing climate emergency against ongoing global movements to stem the tide and reverse course. The Drop – The segment of the show where Philip and his guest share tasty morsels of […]
- Episode 201: Wrestling with Gender & Leadership w/ Susan Madsen October 17, 2024Philip welcomes researcher and author Susan Madsen to the show. In their conversation, they explore her new book focused on gender and leadership and dissect the consistent myths and impediments to women led leadership. The Drop – The segment of the show where Philip and his guest share tasty morsels of intellectual goodness and creative […]
- Episode 200: The Resilience Myth w/ Soraya Chemaly September 12, 2024On episode 200, Philip welcome author and activist Soraya Chemaly to the show. They discuss her latest book The Resilience Myth and how our belief systems on resilience, grit and strength impact us as individuals and as a society. The Drop – The segment of the show where Philip and his guest share tasty morsels […]
- Episode 199: Black Scare/Red Scare w/ Dr. Charisse Burden-Stelly August 22, 2024Philip welcomes Charisse Burden-Stelly author of Black Scare//Red Scare to the show. In their conversation, they examine the historical connection between the criminalization and fear mongering in radical politics through the lens of anti-communist and anti-Black thinking and policy. The Drop – The segment of the show where Philip and his guest share tasty morsels […]
- Episode 198: End of the World w/ Jon Mills August 8, 2024Philip welcomes Jon Mills the author of End of The World: Civilization and Its Fate. In their conversation, they discuss whether or not extinction is an inevitable event and what are the underlying conditions of a future that seems more precarious. The Drop – The segment of the show where Philip and his guest share […]
- Episode 197: St. Augustine & the Christian Master w/ Matthew Elia August 1, 2024Philip welcomes Matthew Elia to discuss his new book, The Problem of the Christian Master. Taking a turn into the theological we discuss how St. Augustine’s relationship with the master/slave duality has impacted modern Christian thinking. We dissect how this connects to Black Studies, liberation politics and on the other side of the equation Christian […]
- Episode 196: Out of Time w/ Colin Strong July 11, 2024Philip welcomes Colin Strong to the show where they discuss his book Out of Time. In their conversation, they tackle the meaning of time, literally and figuratively, and how it impacts how we know and understand our place in the world. The Drop – The segment of the show where Philip and his guest share […]