If pay had kept pace with productivity gains, minimum wage would be $24 an hour

Re:If pay had kept pace with productivity gains, minimum wag... by tasty_freeze on Friday October 09, 2020 @06:04PM (#24734892)

Has it gotten 10x harder? Was running the vast agglomeration of companies that was ITT really less difficult than running today's sprawling companies? Do you think the CEOs of today's companies get into the nitty gritty of all of those issues you talk about, or do they, as always, delegate the real work of understanding those issues to their subordinates?

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Re:If pay had kept pace with productivity gains, minimum wag... by 1123581321 on Friday October 09, 2020 @09:48PM (#24736138)

Setting direction for others has always been the job, and the difficulty of that can vary.

If we measure a CEO’s job difficulty based on how many years a typical company in their industry can safely operate while stagnating, then the job has become many times more difficult in the last 40 years in some industries. In others, perhaps only twice as difficult.

That is not to say that salaries should stay high, but we would look for reduction to come from systemic productivity gains in management that have come to other white collar professions: software, more efficient management hierarchies, cultural changes in communication, etc.

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Re:If pay had kept pace with productivity gains, minimum wag... by chordalkeyboard on Friday October 09, 2020 @10:49PM (#24736372)

I’m not sure it can be quantified except perhaps by something like “amount of money necessary to motivate a sufficiently skilled person to do this job.”

I’m certain that they delegate those issues to subordinates; do you feel that there is skill involved in managing and supervising subordinates, and melding their disparate opinions into a coherent and profitable direction for the company?

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