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Boom and bust

Danielle Batist
Journopreneur
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piqer: Danielle Batist
Monday, 06 November 2017

What We Earn And What We’re Worth

It’s one of those discussions you (or at least I) tend to have over a couple of glasses of red wine at a dinner table: are we what we earn? Who should be paid what? What is a ‘fair’ wage and should anyone ever have a million pound salary? In the UK, with the BBC salaries in the news again this week, this story came to mind.

It’s in the Book of Life (I piqd another story from there recently too, see here). Philosopher Alain de Botton makes us question the economics status quo, which he says “encourages us to accept how things are. We might not much like the outcomes, but we are invited to remember that they are not the result of any sinister plot. And there isn’t anything very much that can be done to change things.”

De Botton starts with some basic economics lessons, explaining wages as a result of too much or too little labour supply, or low versus high demand for the product.

It gets more interesting when he tries to make us accept that, for the time being, money is not a good indicator of worth. Before you write this off as an obvious thought, I’d suggest reading the article in full. It will surely arm you with some arguments for your next dinner party conversation.

What We Earn And What We’re Worth
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