Thomas Piketty highlights the value of a Job Guarantee. He also speaks to the importance of property rights and political power (as discussed at: https://youtu.be/NCjt027KCG4) At the Global Forum on Democratizing Work in November 2021.
Brave New Europe
Pavlina Tcherneva, Thomas Piketty – Democratising Work
https://braveneweurope.com/pavlina-tcherneva-thomas-piketty-democratising-work
3 comments:
From the video:
In 2020, CEOs still made over 350 times what the average worker takes home
Money has diminishing marginal utility. The reason CEOs have to be highly paid is that it takes a lot of money to keep adding utility to keep these people working and contributing to society. Anyway, they don't spend most of the money they earn. Here's a pic on this page about the diminishing marginal utility of money.
Brave New Life: Understand The Marginal Utility of Money
Also, this:
"I can understand about having millions of dollars. There's meaningful freedom that comes with that, but once you get much beyond that I have to tell you, it's the same hamburger." —Bill Gates
Also, this:
“I don't have a problem with guilt about money. The way I see it is that my money represents an enormous number of claim checks on society. It's like I have these little pieces of paper that I can turn into consumption. If I wanted to, I could hire 10,000 people to do nothing but paint my picture every day for the rest of my life. And the GDP would go up. But the utility of the product would be zilch, and I would be keeping those 10,000 people from doing AIDS research, or teaching, or nursing. I don't do that though. I don't use very many of those claim checks. There's nothing material I want very much. And I'm going to give virtually all of those claim checks to charity when my wife and I die.” —Warren Buffett
There will be no job guarantee until pigs fly.
“ CEOs have to be highly paid is that it takes a lot of money to keep adding utility to keep these people working and contributing to society.”
You mean like the bank ceos who think it’s a good idea to make 1B financing inflationistas while that causes a 40b loss in value of their own regulatory assets? That type of contribution?
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