Busting the “Paid What You’re Worth” Myth

Frederick Foresight said:
I think the takeaway is that power is corrupting fair play. In addition to the spoils of lobbying power for lower taxes for corporations those who own them, there is corporate anorexia “cost control” which can be stifling for the labor force but does wonders for exec compensation in the near term. Might there be some societal moral hazard here that we’re overlooking?
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I agree with your desire for change, but its obvious that the current way of doing things isn't working. Making government bigger, and thereby hoping they pass more laws in order to help the little guy is only making everything more expensive and enriching both the government and the executives.

More regulation will not solve anything. The people who pass the laws are corrupt, so why pass more laws?
 
if you are arguing that shareholder
oversight is not what it should be, I agree. That’s not an argument of the OP, nor relevant to this debate. For if shareholders were more active, CEO pay would be lower but worker pay wouldn’t be higher.

Employers will pay for labor at the market wage. The OP video did nothing to demonstrate how regulation is curtailing that. He didn’t site one monopsony (monopoly employer) that is keeping wages down.


Frederick Foresight said:
Minimum wages regulations?

As members of varying boards, CEOs are voting for compensation packages for one another well into the stratosphere compared to earlier times, and this on a relative basis and not only in absolute terms. Am I wrong about this?

Has not productivity risen well above wages as he outlined? All in the name of shareholder value rather than stakeholder value.

I think the takeaway is that power is corrupting fair play. In addition to the spoils of lobbying power for lower taxes for corporations those who own them, there is corporate anorexia “cost control” which can be stifling for the labor force but does wonders for exec compensation in the near term. Might there be some societal moral hazard here that we’re overlooking?
More...
 
The notion that we need to have the government step in and bar person A who's willing to work for a certain wage from person B from making a living is just wrong. It forces the least marketable out of the job market and makes everything worse. There needs to be such a thing as an entry level position unless you want a perpetual voting block of unemployed voters......

Next thing you'll have people going around firing cops in the poor neighborhoods and saying they're doing it because they care about the people in those neighborhoods.
 
Frederick Foresight said:
Not everyone is corrupt. All laws and regulations are not created equal. What’s the alternative? Lawlessness? No regulation?
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what do you recommend? Your utopia doesn't exist in the real world. Communal living doesn't work at scale... people are different
 
newwurldmn said:
if you are arguing that shareholder
oversight is not what it should be, I agree. That’s not an argument of the OP, nor relevant to this debate. For if shareholders were more active, CEO pay would be lower but worker pay wouldn’t be higher.

Employers will pay for labor at the market wage. The OP video did nothing to demonstrate how regulation is curtailing that. He didn’t site one monopsony (monopoly employer) that is keeping wages down.
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So he was completely off base?
 
Frederick Foresight said:
Not everyone is corrupt. All laws and regulations are not created equal. What’s the alternative? Lawlessness? No regulation?
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The free market regulates itself quite well. We just keep getting in the way of it with government spending and endless money printing. We already have enough worker protections and things along these lines to not worry about extreme cases like slavery or employee abuse.
 
2rosy said:
what do you recommend? Your utopia doesn't exist in the real world. Communal living doesn't work at scale... people are different
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Really? So you go from politicians are corrupt and regulations are not the answer to communal utopia? Did I miss a few steps?
 
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