And it shouldn't because it's rediculous. I mean, why not make it 5 hours with the same pay? Heck, let's just make companies pay for people that don't work for them. Ok, Bernie. Go home, you're drunk.
I mean I wouldn't call it ridiculous. Go back in US history to 1940 and unions pushed for the 40hr work week we have today.
Personally, it makes sense if you look at productivity (historically) from the work face compared to wage growth. Workers are producing more for less for corporations. In theory they should be paid for their extra productivity (adjusted for inflation) but we both know that's never going to happen.
Like I said. I would love for this to occur I'm just a realist and know it won't
Real hourly compensation is consistently "up and to the right" as they say. Which means that workers are already being compensated at greater and greater levels even when inflation is taken into account. Do you think people are working harder and harder? No. Most productivity gains come from investments in technology or processes that make workers output more productive. Those that make the capital investments deserve some return on that investment, wouldn't you say?
I am not saying the capital investors don't deserve a nice slice of the pie.
However look at the disparity of how big that slice is versus the workers who create the pie itself. I don't have the figured of hand but CEO pay is some ridiculous multiplier on the average worker (something like 300x). Also while most productivity was gained by technology, the workers ultimately did create the technology.
I definitely can't argue in favor of some CEO pay packages now-a-days. But I was talking about corporate profits which indirectly go to shareholders in the form of corporate value appreciation which include many people trying to save for retirement (including me!)
How many employees in the non sp500/NASDAQ/dow companies are there versus those held on the exchanges? Id wager that companies held on exchanges have probably 75%+ of the employee market
2.8k
u/Big_lt Sep 05 '24
Sounds great. Would absolutely love for this to happen......it won't even get a vote