The CEO can probably do the function of janitor, most likely the janitor can not do the CEO function. supply and demand dictate the price, it has already been well discussed.Pattern-chaser wrote: ↑June 30th, 2021, 11:08 amYes, that would surely take us in the direction of social justice. But my original musing was more specific: does the CEO's job really benefit the company more than the janitor's? They are both necessary functions, but is one worth more $£€ than the other? I can't see it....chewybrian wrote: ↑June 29th, 2021, 7:42 pmWhat about universal basic income? Say you give everyone $20,000 a year, and they can go out and earn whatever they want on top of it. I doubt this would much affect the wages of CEO's. However, the supply curves of labor for jobs that pretty much anyone can do would change quite drastically, I would think. If the job was fun, a lot of people would be willing to do it for a fairly low wage. If the job was miserable, then a lot of people would be relieved of having to do it to survive. So, the labor pool of people willing to be janitors might pretty well dry up, and wages for these jobs could go way up to attract enough workers. However, a lot of people might still enjoy being lifeguards, and wages for lifeguards might go down.Pattern-chaser wrote: ↑June 29th, 2021, 10:48 amI wish I had some. I'm not happy with how it is, but I can't quite see a practical way to improve matters. Perhaps getting rid of Capitalism would help?
If we remove the CEO can the company function; yes. Can it function well, the theory is no. Can anyone else in the company step in and cover for the CEO, the theory is no.
If we remove the janitor, can the company function; yes. Can it function well, the theory is no. Can anyone else in the company step in and cover for the janitor, the theory is yes.
It is about risk, higher risk is always worth more return. Not having a qualified CEO is a very high risk, no qualified janitor not much risk.
In some cases, specialized engineers and technicians get very high compensation because of the risk to the company. We will always try to have engineers cross-train so that we can control the salary and lower the risk.
Unions are all about consolidating risk so that the risk is enough to create leverage.