Ghost of Igloi wrote:
https://www.reuters.com/technology/apples-tim-cook-paid-over-1400-times-average-worker-2021-2022-01-07/Prof. Racket wrote:
That kind of labor is easily replaceable. No one is bemoaning the lack of overpaid middle-managers who haven't done anything in years but would cost too much to fire. You can easily replace them usually from within the company.
A much more significant driver, in my opinion, is that the available labor is spread too thinly across too many businesses, about 30% of which (at least) probably shouldn't exist anymore. There's way too many faux blockchain/AI/bullsh!t start ups, too many restaurants and Starbucks and knick-knack shops, and too many grocery/food delivery apps. Those places should have been btfo'd by a recession which keeps the economy running efficiently.
America has always been a place where the free market decides winners and losers, except after the Great Recession it was decided that everyone would be a winner. So congrats boomers - you all managed to create a participation award economy.
how much will be re-couped by reeling in the salaries of the few CEOs of this world? I don't think that's going to solve much.
Just start taking steps to ensure a living wage for labor, at all levels (including child care credits, etc,). Then the jobs are more appealing and will get filled, and people won't have to resort to gig-economy BS, delivery driver side jobs with no benefits, and the unsupported fringes of the labor force. That is where we should be headed to build a better, stronger, more resilient economy and workforce.