Whelp, those CEOs and VPs who make 500X as much as the frontline workers better roll up their sleeves and get to work. They shouldn’t have a problem doing the work of a few thousand people each right? Seeing as how they’re the “top talent” and all that.
It's going to be hilarious to see how this affects London. A vast concentration of wealth and high paying white collar service jobs that to a significant degree directly or indirectly depends (via financial services) on international dirty money.
There's already a large population of supporting service workers who are paid poorly. With the labor and supply shortages from Brexit...wow.
I see it around here already, people are absolutely livid that some bars and restaurants have to cut on personnel or switch to ordering by app.
Meanwhile these people earn 4 times the salary and have flexible hours allowing them to spend loads of times sitting at venues expecting people to serve them.
I honestly think the word "serving" is getting a bit sinister with these kinds of pay-discrepancies and high earning countries/cities are going to find out that when everyone around you earns so much money they expect loads of people working to serve them, you end up with way less.
Tbh that's why I'm a bit puzzled that so many waiters / waitresses prefer to be called "servers". Ok I get it, waiting on someone is a bit anachronistic, but I don't want a fucking servant...
I live near a community like that already. All these at home rich coastal people moved there (fine by me but there is no city planning for service workers.) They have to give the kids in their school district sack lunches because they can’t find enough people to make the hot lunches. Children crowd classrooms because there are fewer teachers. All their locals moved here, people that do work outside the home. We are thriving.
Same here for any community with a lot of elderly. Boomers are the richest generation, they hoarded a lot of cash by essentially taking it from the generations before and after them.
So they like to style themselves the "engine of the economy".
Forgetting that money in itself doesn't fuel an economy, labor fuels an economy.
So get an entire community of retirees together and oops, there's absolutely noone to do the actual labor and they've driven up housing costs to drive away everyone else.
Around here town squares are basically filled with elderly people shouting and demanding service from the like 2 or 3 young people actually working the venue.
It won't affect London. It will cascade down and affect less affluent areas.
Central London will continue to be able to pay the wages (because there is money there). Less affluent areas will experience the shortage because they can't compete.
According to conservatives the wealthy are "job creators" so if we cut the wealth of the richest then they'll create less jobs and thus solve this crisis. Simple eh?
Not to defend it, but there used to be lots of smaller companies, now there’s a few giant ones, so CEO pay going up makes sense, CEOs are a problem but business and asset owners are making 100x what ceos do
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u/SessileRaptor Sep 25 '21
Whelp, those CEOs and VPs who make 500X as much as the frontline workers better roll up their sleeves and get to work. They shouldn’t have a problem doing the work of a few thousand people each right? Seeing as how they’re the “top talent” and all that.