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by harrumph
3127 days ago
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I think we should not use terms like "common sense" when describing totally uncommon practices. Wages aren't stagnant by accident -- far from it. The constantly repeated, default decision by boardrooms to unlink compensation from productivity and thereby suppress wages is in fact the overwhelming, prevailing "common sense" of the really existing world. This goes hand in hand with the systematic expropriation by ownership of the surplus value created by workers. This situation persists because persons with your perspective cheerlead it on, in part by moralizing on worker compensation while totally ignoring the moral calculus of ownership's claim to the surplus value created by workers. That's what you did here: >Yet no additional effort, creativity, or skill was required on the part of the cashier [...] [therefore they deserve no share of their expanded productivity] Fact: if additional effort, creativity and skill was a bona fide prerequisite for receiving expanded compensation linked to productivity, then dividend compensation for nonworking stockholders would never flow -- let alone grow to the astronomic, middle-class-savaging intensity it has today. |
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Where we probably disagree on the reason, though. To me, it comes down to an individual's overall slice of the monetary pie. Since money is just a representation of value, it's basically just a number inside of a larger system that we utilize. All that matters really is your portion of the whole. Let's use GDP as a gauge. The US has ~18.5T in GDP per year. Let's cut off some zeroes (6 of them) to get some more usable numbers. For a person making $10 an hour, that's about 20k a year, or 20,000/18,500,000=0.108%. If GDP increases 4% in 2 years but their wage only goes up 2.5% that would be 20,500/19,240,000=0.1065%. This means that they now have lost some purchasing power relative to everyone else because their share of GDP has decreased.
Now that's a moral argument, to be sure, because there is still supply and demand for labor that is a dominant for in the labor markets. So if someone else is going to work for $9 an hour, that's going to be a problem. There are many factors at at play.
But thanks for getting me to re-think my position on this.