#11711228, By Dante_Cubit The UK General Politics Thread

  • Dante_Cubit 12 Jan 2017 17:16:18 1,996 posts
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    Registered 11 years ago
    The whole maximum salary thing is highly problematic as people note. It is very easy to circumvent and even if you introduce ratios, it would inevitably lead to outsourcing functions to specific 'low pay' subcontractors in order to keep the minimum salary threshold high.

    The problem, as is usually the case, is that companies cannot be trusted to be self-regulating. Capitalism as Keynes put it suggests that "The nastiest of men for the nastiest of motives will somehow work for the benefit of all". Accountability is the only thing that can keep it in check. Renumeration committees are nothing but a club designed to ensure that the few benefit at the cost of the many. Salaries need to recalibrated by having shareholders and employees determine the correct level, not people who supposedly represent them. Despite what the neoliberalist theoreticians will tell you, you'll never have a problem filling a 500k/yr job with someone very qualified or skilled. Performance should obviously be a factor and the use of huge payoffs to reward failure completely abandoned. It wouldn't be easy to introduce and the Daily Mail will start crying about Trotskyite insurgency but it would make things fairer and people act more responsibly when they understand there are consequences for their failure.
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