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They are totally connected. If you don't have the market power to have garnered a good pay increase over the past 2 years of record profits you're almost certa
by harry8 4y ago
They are totally connected.
If you don't have the market power to have garnered a good pay increase over the past 2 years of record profits you're almost certainly underpaid, like teachers, nurses etc. If you got massive pay increases you're almost certainly overpaid, like CEOs.
The connection is right there. Maybe these two things could somehow become disjointed but they really don't appear to be such in any meaningful way in the current economy.
- eru 4y agoWhat do you mean by underpaid and overpaid? Plenty of people want to become teachers and nurses and doctors (or veterinaries or musicians or artists etc), knowing full well how low the pay is.
- chii 4y ago> underpaid and overpaid? there's two "meaning" to being underpaid; 1) the work being done is captured by another party, and thus underpaid to the worker doing the work. An extreme example is slavery - they are underpaid. 2) the second meaning of underpaid is the perception from other people that the profession is producing value for society, but the payer of that work (usually tax payers) is not compensating for the value dispersed throughout society. Examples might be teachers.
- eru 4y agoI can understand the first notion: the 'price' offered is not enough to clear the market. In your example, there are fewer people who voluntarily would be doing slave labour for slave wages, than willing employers. The second is a bit nebulous. I think it's mostly down to social desirability bias: people say stuff that sounds good, but doesn't make much sense.