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by jopsen
1908 days ago
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> that root cause being that our society requires that some labor in terrible conditions for little pay because it is necessary to maintain profits. Economic theory would argue that: "little pay" is because they produce "little value". I know pay and value are not aligned. But better education, health prospectives and stability (not war) tends to improve pay throughout an economy. Individual acts of charity, especially effective altruism, is more like blow with the wind. Contrary to popular belief extreme poverty is rapidly declining. |
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Any economic theory that predicts this is probably not very useful, since this claim is easily falsified. Consider e.g., the situation of Amazon workers who are paid low wages and forced to maintain such a pace that they need to go to the bathroom in bottles and bags, but whose labor on the other hand caused Jeff Bezos' wealth to increase by over $100,000 per worker over the last year.