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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory
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To: Mike Johnston who wrote (56131)3/17/2006 7:10:35 PM
From: GraceZ  Read Replies (2) of 110194
 
Jobs have a market value. I have never paid someone or raised their rate based on what they needed to live. I base their pay on what I need to keep them working for me, what they produce for my business and a margin above what I might have to pay someone else to replace them (accounting for the increased costs of training someone new).

Suppose I did base it on CPI. Now suppose what I have them do hasn't gotten any more productive in the time they worked for me. In fact their productivity could be falling and I'm getting less from them an hour than when they started. If I base their pay on the CPI then I'm soon paying them more than they produce for me. So they have great pay in the same year their job disappears as my biz goes bust.
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