Jesse Ventura is now saying forget implementing a minimum wage, now he’s saying let’s implement a “MAXIMUM WAGE”… specifically a salary cap on all CEOs apparently much like in pro-sports. His argument is basically that in the last three decades, a CEOs salary has grown 875% versus that of the average worker, which rose at a measly 5.4%.
He believes that this will somehow save the middle-class? Clearly (just like Russell Brand) he’s never heard of the law of demand, or time preference, or the fact that a wage is a price, that wages represent the discounted productivity of labor in satisfying consumer demand.
“Some want maximum wages for business executives, who are said to make too much money. It’s unclear how Congress is qualified to set the “correct” wage for business owners and executives, and unlike members of Congress, highly-paid executives are not protected from the risks and demands of the marketplace.”
Julian Adorney.
