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by wavesounds
4530 days ago
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I think everyone can agree that what you are paid to work should be near the value your work provides to whomever is paying you. Therefore people are underpaid if they provide a lot of value and receive a lot less in return and vice versa. Therefore are lawyers who create bad patents and then sue people over them, thus destroying value and producing none themselves overpaid? Yes Is a fast food worker working for minimum wage for a company that makes billions of dollars in profits underpaid? Yes. Unfortunately supply and demand determine our salaries and not strictly the value our labor produces. |
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The problem is determining the value those people provide.
If a business owner invests $10 million dollars in a complex machine that creates $10 million dollars a year, is the employee who flips the machine on and off every day and replaces toner cartridges producing $10 million dollars in value? Hardly. The person/company who created the machine more directly produced the value and he/they determined to sell it to the business owner for $10 million dollars.
Is a fast food worker working for minimum wage for a company that makes billions of dollars in profits underpaid? Yes.
No.
This has similarities to my contrived scenario. Billions of dollars were spent in creating fast food companies that can mostly be operated by teenagers with little or no skills. What creates the profit, the investment in all of the infrastructure that lets the teenagers follow simple instructions or the easily replaceable teenagers themselves?