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Author Topic:   Executive Pay - Good Capitalism Bad Capitalism?
Minnemooseus
Member
Posts: 3940
From: Duluth, Minnesota, U.S. (West end of Lake Superior)
Joined: 11-11-2001
Member Rating: 10.0


Message 15 of 135 (746657)
01-09-2015 12:47 AM


What someone gets vs what they earn
In parallel with the Marxism vs Socialism vs Communism vs Totalitarianisms topic.
For here, my definition of "earn" - Doing something that justifies a certain payment, but not more.
Slacker, who has "earned" $1000, but is paid $10,000
vs
Company CEO who has "earned" $100,000, but is paid $1,000,000.
Both are paid 10 times what they "earned". Which is being the greater leach on the economic system?
Moose

Professor, geology, Whatsamatta U
Evolution - Changes in the environment, caused by the interactions of the components of the environment.
"Do not meddle in the affairs of cats, for they are subtle and will piss on your computer." - Bruce Graham
"The modern conservative is engaged in one of man's oldest exercises in moral philosophy; that is, the search for a superior moral justification for selfishness." - John Kenneth Galbraith
"Yesterday on Fox News, commentator Glenn Beck said that he believes President Obama is a racist. To be fair, every time you watch Glenn Beck, it does get a little easier to hate white people." - Conan O'Brien
"I know a little about a lot of things, and a lot about a few things, but I'm highly ignorant about everything." - Moose

Replies to this message:
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 Message 40 by Minnemooseus, posted 11-29-2017 9:01 PM Minnemooseus has seen this message but not replied

  
Minnemooseus
Member
Posts: 3940
From: Duluth, Minnesota, U.S. (West end of Lake Superior)
Joined: 11-11-2001
Member Rating: 10.0


(3)
Message 40 of 135 (824516)
11-29-2017 9:01 PM
Reply to: Message 15 by Minnemooseus
01-09-2015 12:47 AM


Re: What someone gets vs what they earn
Gilded Ages are not times of human flourishing
Gilded Ages are not times of human flourishing
quote:
quote:
One of the best soundbites I’ve heard about modern economics is (paraphrased)) It’s not possible to earn a billion dollars. It is possible to steal a billion dollars.
There is nobody smart enough, hardworking enough, trained enough and dedicated enough to earn a billion dollars without leveraging corrupt systems and exploiting people.
The poverty threshold in America is $11,490 for one person. If someone has a billion dollars, that is 87,032 times the poverty line.
It’s possible for someone to be twice as smart as another worker. It’s possible for them to be four or five times as hardworking. It’s possible for one person to have ten times the training of another person. So if you have one person that is half as smart, a fifth as hardworking, and a tenth as trained, they should reasonably earn one percent of the other. That’s the very outside figure. But anyone who takes in more than a million dollars per year did not earn that, they stole it. They found a vulnerable system to exploit or they found a group of people to cheat. Maybe they did it legally. Maybe they paid someone to make it legal to do that. It happens. But earn? Actually -deserving- that much money because of their merits and efforts? No.

Moose

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Minnemooseus
Member
Posts: 3940
From: Duluth, Minnesota, U.S. (West end of Lake Superior)
Joined: 11-11-2001
Member Rating: 10.0


Message 47 of 135 (824595)
12-01-2017 2:28 AM
Reply to: Message 46 by NoNukes
12-01-2017 1:24 AM


Re: What someone gets vs what they earn
I don't care whether he deserved the money or not.
In at least the context of the present subtitle, getting what you earn is getting what you deserve to get. Getting more than you deserve to get is getting more than you earned. Getting less than you deserve is getting less than you earned.
In this context "earn" and "deserve" are synonyms.
Moose

This message is a reply to:
 Message 46 by NoNukes, posted 12-01-2017 1:24 AM NoNukes has replied

Replies to this message:
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