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by turc1656
3128 days ago
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I've taken several days to consider your comment. I believe you are largely correct after giving it some thorough thought. Workers should receive additional compensation for increased productivity. Obviously, they would not receive the entire productivity gain, but they should receive some portion of it. If they can use new technology to create an additional $5 an hour in value, maybe they should receive something like $2 in additional compensation. 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. |
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I'm equally grateful you considered our conversation.
Worker ownership and worker governance of enterprises, in my view, is the general way forward. I suggest to anybody reconsidering commerce under capitalism take a look at the Mondragon Cooperative Corporation for a living example of super-productive commerce and industry that employs tens of thousands without the baked-in inequality that drives so many social ills.
Cheers!