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Nobody earns a billion dollars; the only way to get that kind of money is to pay a whole lot of people significantly less than the economic value of their labor
by wayoutthere 7y ago
Nobody earns a billion dollars; the only way to get that kind of money is to pay a whole lot of people significantly less than the economic value of their labor. The internet economy has just made it easier to abstract away ethical problems such that you don't recognize them as hugely problematic when you're making them.
With the current system, we're reliant on the whims of a couple of billionaires. Some are relatively benevolent, but far more are on the level of the Kochs, Larry Ellison or the Sacklers. Business schools have taught the "fiduciary duty" doctrine for a long time, which is basically "maximize profit above all else, or we'll find someone else who will".
- SpicyLemonZest 7y agoI don't see the ethical problem. I'm paid significantly less than the economic value of the labor; this is because my company does a lot of coordination work to connect my labor to clients who need it, and I'm not particularly good at that kind of work so I can't effectively do it myself. I don't think "reliant on the whims of a couple of billionaires" is a fair characterization. In what way does the average person rely on the whims of Larry Ellison?