With executive pay, rich pull away from rest of America - The Washington Post
Article from the Washington Post about income inequality... specifically I want to discuss the quote below:
Inequality, economists have noted, is an essential part of capitalism. At least in theory, “the invisible hand,” or market system, sets compensation levels to lead workers into pursuits that are the most productive to society. This produces inequality but leads to a more efficient economy.
Economics/Economists say that the "invisible hand" sets market based incentives so that workers find jobs that are valued more and therefore paid more. Is this actually the case? Yet anytime someone starts a thread about career choices, they are resoundingly told to pursue their passions/follow your heart/do what you love. Those two ideas don't seem to match up.
I have other thoughts on it, but I'll keep them broad for now.
Article from the Washington Post about income inequality... specifically I want to discuss the quote below:
Inequality, economists have noted, is an essential part of capitalism. At least in theory, “the invisible hand,” or market system, sets compensation levels to lead workers into pursuits that are the most productive to society. This produces inequality but leads to a more efficient economy.
Economics/Economists say that the "invisible hand" sets market based incentives so that workers find jobs that are valued more and therefore paid more. Is this actually the case? Yet anytime someone starts a thread about career choices, they are resoundingly told to pursue their passions/follow your heart/do what you love. Those two ideas don't seem to match up.
I have other thoughts on it, but I'll keep them broad for now.
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