AlaskanAssassin
Well-Known Member
Employers are quite happy to pay well below the productivity benefit derived from the employee. There would be no internet billionaires if the CEOs were not deriving wealth from the productivity created by others.
Is this effect being seen in, for example, Seattle, which already has a $15 wage?
Well, the average salary at Facebook is $123K a year........yet somehow Mark Zuckerburg became a millionaire.
https://www.payscale.com/research/US/Employer=Facebook_Inc/Salary
Employees are always going to get paid less than their production. A business can't function otherwise. I personally don't see it as deriving wealth from another person's productivity. I see it as a reward for the risk undertaken, capital invested, or initiative and foresight to start a business. I suppose in reality it's a combination of the two.
Lots of mixed studies on the Seattle impact. I'm not sure Seattle is the best example study, considering its already high cost of living, etc. Results might be different in Kentucky, Alabama, Indiana, etc.