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A comment on World's richest 500 see their wealth increase by $1T this year. Parent comment

Re:World's richest 500 see their wealth increase by $1T this... by nofilter on Wednesday December 27, 2017 @01:10PM (#16016617)
How well does that argument hold up tho'? I mean, there is always _someone_ who does it cheaper. Always. In fact I know of a web developer, who actually does quite decent work and is available for as little as $5 per hour. Does that mean everyone in that skill level should get paid so little?
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Re:World's richest 500 see their wealth increase by $1T this... by bko on Wednesday December 27, 2017 @01:17PM (#16016655)
How would you allocate work? Suppose you are paying a “fair” wage above the market wage, so you have 5 equally qualified candidates apply. They are not allowed to compete on price since you already decided to pay what you consider a fair wage.

How do you decide who gets the work?

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Re:World's richest 500 see their wealth increase by $1T this... by nofilter on Wednesday December 27, 2017 @03:46PM (#16017879)
I would hire whoever produces the best quality of work for that amount of money, but if they all produce the exact same quality of work, I would hire the one who takes the least amount of money.
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Re:World's richest 500 see their wealth increase by $1T this... by dclowd9901 on Wednesday December 27, 2017 @02:04PM (#16017048)
The reason anyone can make this kind of wage work is through consumer credit. Eliminate consumer credit, and wages will go up/prices will go down, I would bet my life on it.
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Re:World's richest 500 see their wealth increase by $1T this... by charlesdm on Wednesday December 27, 2017 @01:12PM (#16016627)
Cheaper yes, but perhaps not better. I'd be happy to demand a few million a year for high quality development work from an employer, but the laws of supply and demand do apply.
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