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Alistair Jarvis of @UniversitiesUK embarrassing himself AGAIN. @MikeOtsuka has a detailed take-down of one key point: employers dont' need to pay more; they just need to accept slightly higher risk, which most probably do. But there's more...
"Employers are trying to deal with a tough set of financial circumstances". Uhuh, uhuh. Tell me more. 
I guess these "tough... financial circumstances" must also be leading to a restraint in executive pay? Oh.
