You have to though, because when people are considering what career path to pursue, they aren't looking at one scenario, they are looking at the expected scenar

You have to though, because when people are considering what career path to pursue, they aren't looking at one scenario, they are looking at the expected scenario. For a start-up this means lots of long hours at low pay with a slim chance at making it big. If you lower that big payoff, start-up employment then becomes long hours at low pay for a slim chance at making very little. If this were the case, no on would work in start-ups. You can't affect the "slim chance" part of the equation because no one knows what ideas will be successful. I am talking about the price of labor, but in aggregate not an individual. This is what sets the incentives for the labor and incentives, not any set nominal value that may be decreed objectively "correct", are what the market sets. Both responses also seem to object along the lines of the Labor Theory of Value. Do you truly believe that the price of a product (wages or otherwise) should be directly tied to the amount of labor going into said product?