Tuesday, October 23, 2012

Justice and Fair Pay

Should a banker be paid more than a nurse? - Michael Sandel audio podcast.

Effort and Hard Work
Importance of contribution to wealth creation, social well being
Intrinsic or moral value of the work
Logic of market "aggregate choices of individual consumers and people who offer their labour and services to decide"
Perfect meritocracy would justify the difference in pay?
Why the difference is so huge, is that fair?

Born with gifts and possession, moral arbitrariness.
Pay depends how society values ones' work.
"pay" should include job satisfaction?
Why the difference is so huge, is that fair?