"Switzerland is to hold a referendum on executive pay in early March, with measures to be voted on including a ban on golden hellos and a binding shareholder vote on pay", reports MoneyWeek. Emma Thompson on Reuters.com regards it a "stunning turn of events for the land of secret bank accounts."
The uproar that precipitated the vote has also created sufficient social and political pressure to persuade Novartis to ditch a proposed $78m payoff to departing chairman Daniel Vasella.
This site seeks to contribute to the debate on improving democracy. The proposed "Interactive Democracy" system utilises Information Technology to allow anyone to suggest a policy by ePetition (Ideas Engine). Those with sufficient support would be refined by the elected Parliament, taking into account similar and opposing proposals, to form laws to be ratified by national referendum. The elected government is then responsible for implementing the new law or directive. Modern technology can facilitate this in a secure and cost effective manner. It can also enhance the debate by enabling the "pros" and "cons" to be aired and by allowing voters to pose questions.
This system recognises that today's politicians have no mechanism for reliably discovering what the majority of their constituents think on any one issue and they may also be confounded in their ability to vote on their constituents behalf by the power of the party whips.
Comments and questions are welcome.
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