Re:What harm do minimum wages do?
by aidenn0 on Wednesday August 19, 2020 @06:17PM
(#24217422)
I am willing to work as the CEO of Walmart for say $750k per year. The fact that I don't work there means that either:
1. Voting Walmart shareholders think that the having Doug McMillon for $24M/year is a better deal than having me for $750k/year
2. Voting Walmart shareholders are unaware that reasonably intelligent people with no executive experience are willing to work for a lot less than McMillon.
3. There are other forces at play; e.g. CEOs as Veblen goods or good-old-fashioned corruption. Maybe the board members are also C level employees (at different companies) and they are colluding to keep the C level compensation high.
#2 seems rather unlikely so pick one of #1 and #3.
#1 Certainly does not contradict my use of intentionally, since they believe that McMillon
1. Voting Walmart shareholders think that the having Doug McMillon for $24M/year is a better deal than having me for $750k/year
2. Voting Walmart shareholders are unaware that reasonably intelligent people with no executive experience are willing to work for a lot less than McMillon.
3. There are other forces at play; e.g. CEOs as Veblen goods or good-old-fashioned corruption. Maybe the board members are also C level employees (at different companies) and they are colluding to keep the C level compensation high.
#2 seems rather unlikely so pick one of #1 and #3.
#1 Certainly does not contradict my use of intentionally, since they believe that McMillon