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Typically the highest paid labourers are all people with relatively transparent salaries. - CEOs - Athletes Also things with salary transparency (i.e. Unions /
by lesuorac 3y ago
Typically the highest paid labourers are all people with relatively transparent salaries.
- CEOs
- Athletes
Also things with salary transparency (i.e. Unions / Guilds) results in hirer wages for their members compared to similar workers without the things.
It's also in line between with the basic principals of capitalism. The basic supply-demand graph assumes perfect information which is obviously not true when a job-seeker doesn't know the salary of a job they're seeking so you'll end up with mismatches in the job-supply and job-demand.
- sdfghswe 3y agoOk so the rationale for such laws is to help employees get paid more?
- lesuorac 3y agoI'm not sure it should be phrased that way. The rationale for such laws is to ensure an efficient allocation of labor. An expected side-effect of efficient allocation is higher wages as employees take the best paying job they're suited for but it's not like the point of the law is to make McDonalds pay 25$/h for a fryer. > [1] The legislation underscores New York's commitment to addressing wage disparities and promoting transparency in compensation practices across the state. It ensures that employees have access to vital compensation information, and empowering them to make informed decisions about their careers. [1]: https://dol.ny.gov/pay-transparency https://dol.ny.gov/pay-transparency
- sdfghswe 3y agoOk thanks for this.