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DO WE MAKE TOO MUCH ??
I think it’s human nature to feel that we are underpaid for what we do. How many people do you see that ask to have their pay cut back a little. I don’t care if you make $8.00 an hour or 8 million a year, everyone thinks they are worth a little more. Hey, don’t get me wrong, I’m a full blooded capitalist and I believe you should make as much as the market is willing to pay for your particular skill or service. Not only that, but we all tend to adjust our standard of living up to the level of our earnings. (Actually we all normally spend a little more than we earn, ok…a lot)
The basic premise of our economic system is that people are willing to pay more for what they need or want. That pent up Demand is matched against the available Supply in the market place and a market value is derived. (of course there are ways to screw around with that formula) More demand translates into more sales and more money that is available to pay the salaries and bonuses of those people and companies that can deliver the goods.
Even though I subscribe to the above method of determining value, I think it might need a little tweaking here and there. All in all, I’m sure glad I don’t have to explain the inner workings of the system to a group of students, as a teacher. For starters I would think that teachers would be one of the most valuable resources we have. After all we place the burden of educating our children and young adults firmly on the shoulders or the nation’s teachers, yet they seem to hover near the bottom of the pay scale.
Ok, lets set aside that tired old argument for a moment and get back to the whole, how much is a skill worth argument. A good example might be the salary of a baseball player. To be honest, I don’t even like baseball. It’s way too slow and boring for me. In any case, the star ball player makes millions of dollars a year even though most people never even go to a baseball game (or watch one on T.V. for that matter). I’m sure those guys practice a lot, but come on….its only a game. They make millions of dollars to go out and play a game. (the truth is they only play half a game, they are sitting around in a dug out chewing tobacco, the other half of the game.). Now let’s compare the ball player to your local policeman. He is out working long shifts, making split second decisions, saving lives, busting criminals, and putting his life on the line every day.( hear that guys..take it easy on me if I’m doing a few miles over the limit) Yet, our society has chosen to put a low salary value on the law enforcement officer. (makes ya kind of wonder, doesn’t it)
I think one of the biggest disparities in our pay scale is the amounts paid to T.V, movie, and Rock stars. In all fairness these guys turn out some very entertaining work, but should they really be making upwards of upwards of 100 times what my garbage guy makes? ( and getting all red M&M’s in their dressing room) I mean, I can miss a T.V. show here and there and even go a few months without going out to a movie, but if I miss the garbage truck after a few days, I’m really happy to see the boys in green. When Christmas rolls around you don’t see all of Sinefeld’s fans leaving him a few of those little liquor bottles out front of his house, now do you ?
I cringe when I hear about people who would advocate the redistribution of wealth, but I also ask myself how much is too much.(of course that depend on of its going in my pocket or not) I recently read on the internet that the network is offering Simon Cowell around 144 million to stay on board for one more year of American Idol. (aside from baseball, I think that show is the next biggest waste of air time) Despite what I said above about everyone deserving their own good fortune, I’m not sure how anyone can justify that kind of money to see Simon Cowell bad mouth hopeful singers in his T-shirt for another season. If Simon donated back a quarter to every fast food worker in America, he would instantly raise the standard of living nationwide (and I would probably pull away from the drive in window with the right order in my bag)
I think wealth is in the eye(or the wallet of the beholder) Most American’s have come to expect and demand a higher standard of living than they did in the past. In the old days if a guy had a house, a car, and a few bucks in the bank, he was a happy camper. Today, we all need a new car every few years, maybe a boat, and what’s wrong with a small R,V. or camper, I mean this is America. Forget that “chicken in every pot” deal, we need enough cash left at the end of the week to pay for cable and high speed internet or frequent our favorite restaurant. (or at least order take out.)
Things are different today. I guess all Americans need to realize that we are competing in a global economy now. That means we are competing for goods and services and even the cost of labor against every other country on the world. Thanks to technology and the internet, companies can now hire workers in far away places to do the jobs that Americans once filled. Call Dell computer support and you are quickly connected to some guy in Pakistan. That guy is working for $1.50 a day and he doesn’t have to have a new car, boat and R.V. in his driveway.
It used to be that those of us willing to stay in school and get a better education could demand higher wages in the marketplace. It was common place years ago to forgo 4 years of earnings to stay in college and then make that back 10 fold on graduating. I can remember my dad saying to me “stay in school because the way things are going you won’t be able to get a job driving a cab without a college degree”. I guess he was partially right because today, guys with M.B.A.’s are driving cabs in New York and Vegas.
Things are changing pretty rapidly right now and I’m not sure you need a crystal ball to figure out where the next millionaires will make their fortunes. If I had to take a guess I’d say that the biggest paying jobs in the next 10 years might be in a field of emerging technology that isn’t even on most people’s radar today.
I noticed on the internet that President Obama wants to create an office to oversee people’s salaries, a pay czar of sorts. If that’s true I certainly wouldn’t be a proponent of that level of control, however….if they were to give me the job I jack up the wages of all the hard working nurses, fireman, and cops right away. (maybe I’d trim a few bucks from Ophra or Geore Sourous.)
Maybe in the end, we put too much emphasis on wealth and pay in the country as a measure of success and a accomplishment…perhaps if we put more emphasis on a rewarding career, with an opportunity to make a difference and do good, we could attract the best people to that profession.. Come to think of it, we already do. After all we have some of America’s best and brightest serving for the least amount of pay in our all volunteer American Armed Forces. Thanks guys…
Please feel free to contact me at: pooritalianboy@gmail.com
P.I.B.
I think it’s human nature to feel that we are underpaid for what we do. How many people do you see that ask to have their pay cut back a little. I don’t care if you make $8.00 an hour or 8 million a year, everyone thinks they are worth a little more. Hey, don’t get me wrong, I’m a full blooded capitalist and I believe you should make as much as the market is willing to pay for your particular skill or service. Not only that, but we all tend to adjust our standard of living up to the level of our earnings. (Actually we all normally spend a little more than we earn, ok…a lot)
The basic premise of our economic system is that people are willing to pay more for what they need or want. That pent up Demand is matched against the available Supply in the market place and a market value is derived. (of course there are ways to screw around with that formula) More demand translates into more sales and more money that is available to pay the salaries and bonuses of those people and companies that can deliver the goods.
Even though I subscribe to the above method of determining value, I think it might need a little tweaking here and there. All in all, I’m sure glad I don’t have to explain the inner workings of the system to a group of students, as a teacher. For starters I would think that teachers would be one of the most valuable resources we have. After all we place the burden of educating our children and young adults firmly on the shoulders or the nation’s teachers, yet they seem to hover near the bottom of the pay scale.
Ok, lets set aside that tired old argument for a moment and get back to the whole, how much is a skill worth argument. A good example might be the salary of a baseball player. To be honest, I don’t even like baseball. It’s way too slow and boring for me. In any case, the star ball player makes millions of dollars a year even though most people never even go to a baseball game (or watch one on T.V. for that matter). I’m sure those guys practice a lot, but come on….its only a game. They make millions of dollars to go out and play a game. (the truth is they only play half a game, they are sitting around in a dug out chewing tobacco, the other half of the game.). Now let’s compare the ball player to your local policeman. He is out working long shifts, making split second decisions, saving lives, busting criminals, and putting his life on the line every day.( hear that guys..take it easy on me if I’m doing a few miles over the limit) Yet, our society has chosen to put a low salary value on the law enforcement officer. (makes ya kind of wonder, doesn’t it)
I think one of the biggest disparities in our pay scale is the amounts paid to T.V, movie, and Rock stars. In all fairness these guys turn out some very entertaining work, but should they really be making upwards of upwards of 100 times what my garbage guy makes? ( and getting all red M&M’s in their dressing room) I mean, I can miss a T.V. show here and there and even go a few months without going out to a movie, but if I miss the garbage truck after a few days, I’m really happy to see the boys in green. When Christmas rolls around you don’t see all of Sinefeld’s fans leaving him a few of those little liquor bottles out front of his house, now do you ?
I cringe when I hear about people who would advocate the redistribution of wealth, but I also ask myself how much is too much.(of course that depend on of its going in my pocket or not) I recently read on the internet that the network is offering Simon Cowell around 144 million to stay on board for one more year of American Idol. (aside from baseball, I think that show is the next biggest waste of air time) Despite what I said above about everyone deserving their own good fortune, I’m not sure how anyone can justify that kind of money to see Simon Cowell bad mouth hopeful singers in his T-shirt for another season. If Simon donated back a quarter to every fast food worker in America, he would instantly raise the standard of living nationwide (and I would probably pull away from the drive in window with the right order in my bag)
I think wealth is in the eye(or the wallet of the beholder) Most American’s have come to expect and demand a higher standard of living than they did in the past. In the old days if a guy had a house, a car, and a few bucks in the bank, he was a happy camper. Today, we all need a new car every few years, maybe a boat, and what’s wrong with a small R,V. or camper, I mean this is America. Forget that “chicken in every pot” deal, we need enough cash left at the end of the week to pay for cable and high speed internet or frequent our favorite restaurant. (or at least order take out.)
Things are different today. I guess all Americans need to realize that we are competing in a global economy now. That means we are competing for goods and services and even the cost of labor against every other country on the world. Thanks to technology and the internet, companies can now hire workers in far away places to do the jobs that Americans once filled. Call Dell computer support and you are quickly connected to some guy in Pakistan. That guy is working for $1.50 a day and he doesn’t have to have a new car, boat and R.V. in his driveway.
It used to be that those of us willing to stay in school and get a better education could demand higher wages in the marketplace. It was common place years ago to forgo 4 years of earnings to stay in college and then make that back 10 fold on graduating. I can remember my dad saying to me “stay in school because the way things are going you won’t be able to get a job driving a cab without a college degree”. I guess he was partially right because today, guys with M.B.A.’s are driving cabs in New York and Vegas.
Things are changing pretty rapidly right now and I’m not sure you need a crystal ball to figure out where the next millionaires will make their fortunes. If I had to take a guess I’d say that the biggest paying jobs in the next 10 years might be in a field of emerging technology that isn’t even on most people’s radar today.
I noticed on the internet that President Obama wants to create an office to oversee people’s salaries, a pay czar of sorts. If that’s true I certainly wouldn’t be a proponent of that level of control, however….if they were to give me the job I jack up the wages of all the hard working nurses, fireman, and cops right away. (maybe I’d trim a few bucks from Ophra or Geore Sourous.)
Maybe in the end, we put too much emphasis on wealth and pay in the country as a measure of success and a accomplishment…perhaps if we put more emphasis on a rewarding career, with an opportunity to make a difference and do good, we could attract the best people to that profession.. Come to think of it, we already do. After all we have some of America’s best and brightest serving for the least amount of pay in our all volunteer American Armed Forces. Thanks guys…
Please feel free to contact me at: pooritalianboy@gmail.com
P.I.B.
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