Judge Posner, Eliot Spitzer also think free markets fail with executive pay

The latest Slate column by Eliot Spitzer. As always, I agree – it’s the same topic as my last post, how free markets fail when it comes to executive pay. He references a Judge Posner opinion that concludes the same, and notes how remarkable that is since Posner is a leader of the Chicago School of Economics that highly emphasizes free markets. Posner also concludes that free markets fail with mutual fund fees as well, which is another conclusion that my financial discipler John Bogle reaches.