During a class discussion on ethics, a classmate proclaims “U.S. executives earn every dollar of their pay. Very few people have the skills to effectively run a multimillion dollar global enterprise. Supply and demand should set salaries and if those skills are scarce, qualified executives should go to the highest bidder.” Another classmate argues “Nobody is worth $100 million a year. Corporations are creating a new class of American royalty. Executive pay should be regulated to protect stockholders.” The professor turns to you and ask which side you agree with and why. Address the ethical, economic and strategic implications of executive pay in your answer.