The "real tough jobs" pay little because the marginal job of that kind does not really create that much value. That in turn happens because the most disadvantaged tend to crowd into these jobs, to the neglect of other, more value-creating activities - yet another issue that might be handily addressed by UBI.
replyYet these were the "essential workers" during the pandemic. Not the VCs, not the hedge fund managers, not the industrialists or bankers or rich housewives.
replyAnd all they got for their efforts were applauds.
Reality is that without their work all our societies would have failed and fallen.
Almost any common folks agrees that for example nurses aren't paid enough.
The real issue is that our "valuation" scheme is controlled by the wealthy not by the people and the only metric is what makes the rich richer.
Phew, I am having a real hard time agreeing with you there. I mean, just imagine what would happen, if those social and tough jobs were not performed by people dedicated specifically to doing those jobs. Then we would all have to take care of our family's elderly and that can easily turn into a full time job itself. Let just one relative have Alzheimers or they for some reason cannot move any longer, or even less drastic conditions, that still require you to watch over them, and you will have all hands full taking care of them. This is the reason, why in many societies we decided to outsource this to people whose sole job it is to take care of other people.
replyOr take nurses for example. You really think they provide low value? Tell me more, when you are seeing a hospital from the inside at some point. Yet they are not paid much.
That's why I stated that the marginal job is what sets the reward. We actually have a lot more people wanting to do these jobs than we reasonably have a use for. Your mention of hospital nursing is actually a case in point: actual Registered Nurses are quite scarce, often do highly valuable, specialized work, and get paid a lot.
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