Inequality in society

[Bruce Tuncks]

It's not obvious to me that paying more money gets you better executives. It could get you worse ones.

Surely an executive who was so brilliant that he was "worth" millions a year would have no problem making his money through smart investments?

He would do investments that the rest of us found puzzling until they made him millions, such was his brilliance.

[old man emu]

There's definitely a "type" who wants to get the money and power of these high paying jobs. Perhaps for many of us who "work to live" can't fathom the psyche of those who "live to work". I see my local fishn'n'chip shop owners who work six days a week, 12 hours a day, and I wonder, "what enjoyment do they get out of life?". You only get one chance at Life, so why not "8 hours work; 8 hours play; 8 hours rest'? All you get for being the richest person on the cemetery is a flash-looking gravestone.

[Jerry_Atrick]

I recall a quote from the late Larry Adler, "I work at my play [golf]; I play at my work"..

 

I am related to some seriously wealthy people - when I say seriously, they have appeared in the BRW 200 Rich List occasionally. Unf, that gene never entered our nuclear family's pool. Anyway, I was close to one of my second or third cousins who was in this family - a very bright kid but also knew what he wanted to be and was driven. The bottom line is, a lot of them love doing what they do. So for them that 12 or more hours per day is their passion - and if we could go to the grave having lived our passion, that is not a bad thing.

 

I am not sure the F&C Shop owner enjoys his job, but often, the satisfaction of making a success of something on your own brings a lot of satisfaction.

Edited May 2, 2020 by Guest

[facthunter]

The fish and Chips fellow and his wife won't have an Aston Martin out the back,. like your skin specialist does. Professional pilots get paid to do what they'd pay to do (once). Nev

Edited May 2, 2020 by Guest

[Jerry_Atrick]

I didn't say they would.. success and happiness is different to different people. And it can be relative - working on a grimy factory floor for minimum wage and a small-minded greedy boss or running your own business that won't get you an Aston Martin, but would give you a reasonable income, meeting lots of people, doing interesting and mundane things and can open further doors if you want to...

 

I also know a few people who has well paying corporate jobs and chucked it in to buy a takeaway or icecream shop in a tourist location. Less money (work hours probably the same) but they loved it.

Edited May 2, 2020 by Guest

[Yenn]

The boards of companies will not look at reducing executives pay. They are actively trying to increase it. See my post #4.

What is needed is higher taxes for the highly paid, and that is counter to Scott Morrisons government.

Those pollies have to keep the ultra rich on side, so that they can benefit when their political life comes to an end.

Remember Bob Hawke, wasn't he just about penniless when he became PM and he died with so much that his relations are still fighting over it.

[Jerry_Atrick]

That woould be like MPs voting to reduce their pay...