Baalzamon said: Why is the acceleration of the gap a problem in an economy where everybody is better off than they were?
If I'm doing twice as good in 20 years (as are the majority of people) but we have 10 trillionaires instead of a bunch of billionaires, I quite frankly wouldnt give two shits. I don't have an issue with the business OWNERS making more money than the workers who choose to work for them, who choose to negotiate the salaries they work for, who choose to negotiate the PTO, and who quite frankly, still get a paycheck when the business is in the shitter and the owner is losing boatloads of money. |
The problem is that "better off than they were" isn't the goal. An ideal societal outcome for a person in a terrible situation isn't to make sure they go from having one good meal a week to two and then calling it a win. As such, this odd relative viewpoint is functionally meaningless. The question should not be "Are people in general better off today than they were 100 years ago" but instead "Are people in general as well off as would be expected in a just economy?".
That isn't to say that everybody should be making the same amount of money, but it is saying that how about instead of dumping money into stock buybacks to make your CEO a shit-load of money, put some of that money into raises. It is saying that your CEO shouldn't be making bank while a company is laying off hundreds of workers. It is saying that as productivity increases among workers, so too should their pay.
Income inequality is evidence that things are not happening the way they should. The rich are getting richer and saying "Oh, you are better off than you were 100 years ago so I shouldn't need to pay you enough to afford suitable housing". Wealth inequality is not the issue itself, but it is instead evidence of the greater issues with how wealth is being distributed within the economy. I don't care if there are 100 billionaires or 10 trillionaires, but I would care, for example, if Amazon reduced CEO pay to increase wages and improve working conditions for the people working in their warehouses...
Last edited by sundin13 - on 03 January 2020