Obama Budget Speech

[rjd970]

For sure, risk/reward. I believe the presence of a hierarchy is absolutely necessary to an economy, so the smarter/harder-working of us getting rewarded justly.

My point is it isn't just about smarter/harder working. You think that it is straight up about the hardest and smartest getting paid the most?

 

[volinbham]

My point is it isn't just about smarter/harder working. You think that it is straight up about the hardest and smartest getting paid the most?

Absolutely not but that is the trend.

I guess the question is what's the alternative?

Markets are ultimately aggregated individual decisions. Why do athletes make 1000x teachers? We've collectively decided they do through thousands of choices.

 

[rjd970]

Absolutely not but that is the trend.

I guess the question is what's the alternative?

Markets are ultimately aggregated individual decisions. Why do athletes make 1000x teachers? We've collectively decided they do through thousands of choices.

Not saying there is an alternative, not even saying I disagree with the amount CEOs get paid.

I've been thinking about this today. I guess my fundamental misunderstanding is how the justification is there when the CEO is so separated from the day to day operations that do the job of actually making the money. Even athletes, getting paid for what they do, actually bring the fans to the games/generate the revenue.

 

[milohimself]

My point is it isn't just about smarter/harder working. You think that it is straight up about the hardest and smartest getting paid the most?

It's a mixture... I don't think there are any definites in this world, but it's hard to ignore the signs that point to environment and socio-economic status being a general determinant of one's consciousness. Sometimes poor folks strike it rich, and sometimes the rich lose their wealth. Not very often, though.

That's the result of any capitalist society though. I recognize that it's what's best to keep growth churning, but you will invariably end up with a good number of unemployed, and a lot of people who have a tough time just getting the daily bread. Somebody from that situation is always gonna have to work much, much harder than a trust fund baby to make it big. Is that hard to live with? Yes. Does it have to be that way? Maybe not.