News for hackers. Stuff that matters.

A comment on Make elites compete: Why the 1% earn so much and what to do about it. Parent comment

Re:Make elites compete: Why the 1% earn so much and what to ... by tbrake on Saturday March 26, 2016 @07:05AM (#11365229)
> You see where this is going.

Bob, Ted and you convene secretly and agree you won't poach each others employees or pay them more than $15/hr? And since you're the only game in town and can afford to undercut any competition until they're run off, everyone's forced to deal with it.

[ Parent | on HN ]
Re:Make elites compete: Why the 1% earn so much and what to ... by morgante on Saturday March 26, 2016 @09:36AM (#11365604)
And then Mark comes along, realizes you have some great employees, refuses to collude, and hires them for $50/hr.
[ Parent | on HN ]
Re:Make elites compete: Why the 1% earn so much and what to ... by tamana on Saturday March 26, 2016 @01:22PM (#11366480)
Which ends the practice after years of wealth extraction. Economics is efficient only in the limit to infinity, not immediately.
[ Parent | on HN ]
Re:Make elites compete: Why the 1% earn so much and what to ... by WalterBright on Saturday March 26, 2016 @07:23AM (#11365263)
It's hard to see how the secret wouldn't get out that there are employees producing 10x what they're paid, and I don't see how you could get every investor in the country to collude voluntarily.
[ Parent | on HN ]
Re:Make elites compete: Why the 1% earn so much and what to ... by techdragon on Saturday March 26, 2016 @08:22AM (#11365377)
It's not that every one has to collude it's that enough collude to make things worse.
[ Parent | on HN ]
Re:Make elites compete: Why the 1% earn so much and what to ... by WalterBright on Saturday March 26, 2016 @07:00PM (#11367874)
Yeah, pretty much everyone has to collude. Otherwise, why would anyone work for $10 when someone else offers $20?
[ Parent | on HN ]
Re:Make elites compete: Why the 1% earn so much and what to ... by bobwaycott on Saturday March 26, 2016 @07:34PM (#11368008)
Because there is imperfect information available. Because people take poor deals out of necessity. Because the guy paying $20 isn't hiring right now, but the guy paying $10 is. It's really not hard to think of some potentially realistic and viable reasons here.
[ Parent | on HN ]