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The point is that if you can produce more value for an employer than you're currently being paid, then in a competitive market, one greedy capitalist will tend
by evanpw 11y ago
The point is that if you can produce more value for an employer than you're currently being paid, then in a competitive market, one greedy capitalist will tend to outbid another greedy capitalist to capture that extra value. So there's also a race to the bottom in the direction of higher wages.
- lhc- 11y agoThat's the theory, but then you have things like wage-fixing scandals as seen recently in Silicon Valley that conspire to prevent workers from capturing their fair share of the value.