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Fri 14 May, 2004 07:45 pm
plutologically, what makes the salary discrepancy among similar professions in different economic department?
Supply, demand, and the union type arraingements enjoyed by the legal, medical, and dental professions?
Heck, I answered without looking up 'plutologically'. I just could be way off track.
I think you're generally right, Roger, except for the salaries of CEOs.
The salaries of CEOs belong in another hemisphere. Or should that be stratosphere? LOL
so supply and demand determined the defference of price of same amount of labor in different sections of industry, isn't this unfair?
Neo, In a true capitalist society, there will always be differences in pay for all levels of employment. When there is a shortage of one speciality, and there is high demand for it, the employer will need to set a higher salary to attract applicants to fill their position. A good example of that is the health industry in the US where we have a shortage of registered nurses; hospitals are competing to attract nurses, and their pay scale is one of the highest we have ever seen for nurses - many approaching $80,000 or more.
You may be right, Neoquixote. I'm sure Karl Marx would have agreed.
Neoquixote wrote:so supply and demand determined the defference of price of same amount of labor in different sections of industry, isn't this unfair?
It depends on your definition of "fair."
When I visited Russia a few years ago, everybody essentially made the same salary whether they were laborers or professionals. Most made about $100 per month. I understand that is now changing. What was interesting about my trip to Russia was that on our river boat, we had professionals working as staff on the boat. Some were doctors, college professors, and lawyers, and they were bartenders, maids, waiters and waitresses. The reason they worked on the river boat was that they were multi-lingual, and could earn upwards of $500 per month on tips. I'm sure it has little changed even today.
Case in point about supply and demand - professionals in America who make $100,000 a year are being fired in leiu of workers in India who will do Phd-level work for $20 and hour. It's a sad world.
cicerone imposter wrote:Neo, In a true capitalist society, there will always be differences in pay for all levels of employment. When there is a shortage of one speciality, and there is high demand for it, the employer will need to set a higher salary to attract applicants to fill their position. A good example of that is the health industry in the US where we have a shortage of registered nurses; hospitals are competing to attract nurses, and their pay scale is one of the highest we have ever seen for nurses - many approaching $80,000 or more.
thank you for your explication, i agree with you in most of your point of view, i propose this topic here because i wanna get a underlying understand about whether teachers of different disciplines should be paid same salary.
Re: what makes salary different
Neoquixote wrote:plutologically, what makes the salary discrepancy among similar professions in different economic department?
well, this is my first appearance in this website. nice to see you here, Neoquixote !
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