This commentary, a contribution to the Harvard Business Review Online Forum on the CEO's role in fixing the capitalist system, makes the argument that for an incentive system to usefully support a firm's long-term, society focused agenda, companies need to lessen their reliance on financial...

This article argues that the increasing focus on pay by policymakers, shareholders, and the media has magnified its importance as a gauge of success for top executives and created a vicious cycle of ever-higher pay demands. It suggests ways for policymakers, shareholders, and boards of directors...