funeralxempire wrote:
I think if a business is paying exorbitant bonuses to executives or inflating their stock price through buy-backs the idea they can't pay a living wage to each and every single employee is laughable.
There are better fixes to that than just jacking up the minimum wage though, which creates problems where the value of the labor is less than the required wage.
funeralxempire wrote:
They try to place more blame for increasing prices than is fair or reasonable on the costs of labour because the goal is to drive that cost down as low as possible, but who generates the profits? It's not the executives or the managers.
I don't think it's quite that simple, good management really can make a huge difference (both for good and bad), even in industries that rely on relatively menial labor to actually produce the product. Marx had a good idea here and there, but the labor theory of value wasn't one of them.
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