Thanks for joining the two discussions, Usman.
Raj, I think the big difference between the incentive pay situation and the communism situation is in external discipline. If we left it up to company executives (or investment managers) to determine their own pay, they might take everything. We recognize this problem, so the power lies with the shareholders, who discipline them partly by determining their compensation. Communism (by which I mean Marxism) fails because it doesn't even recognize the incentive problem--so in steps oppressive dictatorship. The difference is that shareholder governance can in principle solve the compensation problem so that executives take actions to maximize shareholder value (thereby maximizing the health of the company), whereas oppressive dictatorship can't solve the problem.