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View Diary: What about the pay ethic? (294 comments)

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  •  the widget sells for the market price... (4+ / 0-)
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    Ivan, salmo, kurt, isabelle hayes

    how the costs of production are divided up vary from country to country.

    Our country strongly favors management and finance, so the money gravitates to those jobs.

    Other countries, with a stronger pay ethic and stronger (non-corrupt) unions, value the producers, and allocate a larger share of the costs to workers than to management. We used to do that, too, back in the days when wages were good, but in the last 30 years, there's been a concerted attack, through legislation, on worker's salaries and working conditions in order to bolster the amount of money going to management and finance.

    There's a big rationale about it, but industries in other countries manage to pay their workers more and the management less and still produce high quality goods that sell in the international market place.

    Not surprisingly, workers have more to spend, more time to spend with family and friends, more social services that enhance the quality of life, and much less personal debt than US workers, on average. We work longer and longer for less and less, our social services deteriorate, a war of all against all emerges, while all the value added of our productivity flows upwards. Now, we don't have enough to spend, and so our economy will remain sluggish for a long time.

    We have adopted several myths like these that are our undoing and unravelling.

    People are rightfully angry, but lash out at the wrong targets, and we end up with the party in waiting that only knows tea... and that, not very well.

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