It\’s taken me some time, I admit, but I\’ve come to the conclusion that Compass, the lefty ginger group, is actually correct.
We should indeed have maximum wages.
For the first order effects would be very interesting indeed.
So, maximum wages would mean a cut in those top wages: that\’s the point, after all. So, that dosh that would have been paid out in top wages, where will it go?
Not to the low paid workers, that\’s for sure. We\’ve already got lots of those, companies are paying what they need to pay to get the number of workers they want. Similarly, that dosh isn\’t going to go to the customers: companies don\’t price on their costs, they price on demand.
So the only place that that dosh saved in not paying top peep\’s wages can go is into profits. More profits means higher returns for shareholders.
Which is, of course, a very good thing indeed. So, we should have maximum wages in order to stop people getting the full value of their labour and to enable to capitalist bastards to capture more of the sweat from their brow.
Compass: making the world better for capitalists.