Mark SumnerThere is no such thing as a “job creator.” There are employers, who hire employees, *because they need them*. And then employers pay the employees less than the value they generate. That’s the system. How did we get to the point at which people behave as if the wealthy are giving a gift to working people? I realize it’s not a new attitude, but it remains proudly f’d up.
Mike | Abundance Protocol@Devilstower I agree that the system doesn't fairly compensate workers for their labor. The question though is, if an employer pays an employee LESS than what their labor produced, why does the employee agree to such terms and not just produce the labor independently and get the full pay? Not so simple..
Adam Jacobs 🇺🇦@abundance @Devilstower I think it's all because it's not a zero sum game. In many cases, if employees just went and got on with their labour by themselves, their labour would be worth less than it is as part of a well-organised company.
So for a business to hire someone can be a win-win: the employer pays less than the labour is worth, but the employees still make more than they would do without the employer.
Doesn't mean it always works that way, of course.
@statsguy @Devilstower Agree. I also don't think most employers are mere rent-seekers. They risk their investment in the business and they spend their time & money to make the business successful.
If employees could make as much money without the employer - well, then they should.
RED HOT CHILI@abundance @statsguy @Devilstower Most oft time it is not even the money of the "employeer" but some book-entry money or from capital market.
@rote_chili @statsguy @Devilstower sure. And that's part of the risk also. No one loans out money risk-free. What happens if the employer doesn't pay back? They're likely to lose their business.
@abundance @statsguy @Devilstower OK, and what about finance-crisis, ... in case of a crisis the risk and losses are covered by society most of the time.
@rote_chili @abundance @Devilstower Seems to me there is an important distinction here between big businesses and small businesses.
Big businesses are often supported by financial institutions, rather than any entrepreneurs risking their own money.
Very different for small businesses. As a former small business owner, I can promise you that the government doesn't come and bail you out if you go bust.