Saturday, October 11, 2014

Maximum Wages - Defeat Sociopathy that ruins Capitalism

Capitalism survived because it works better than every other system.  But what we are seeing now is the less fettered capitalists are, the less they use the system for society's benefit and the more they appeal to their own baser needs.

The whole point of capitalism is it accepts that people are both greedy and lazy - to greater or lesser degrees.  We get people to get out of bed by working for a living and contributing at the blue collar levels.  Basic survival and trying to make a better life for their kids. All workers work for a few dollars more.

Everyone's involvement in capitalism comes down to how lazy and how greedy they are.

Unfortunately, at the highest wealth levels, people are prone to take total advantage of the system they now own by taking full advantage of all the perks.  They play dirty to win a few billion more.

Society owns capitalism, not the wealthy. The social contract is we all agreed to play by the rules in everyone's favour.

When you combine extreme wealth with sociopathy that's not in everyone's best interest. 

How do you combat that?  Make a maximum wage. Or increase taxes over that limit on an exponential scale.

If we cap total income per year at say $10 million dollars then we reduce the incentive to be a sociopathic wealthy person. 

If you can't make any more, then you don't have the incentive to go to extreme measures to make more.  You can be more lazy and less greedy. 

Laws can fix capitalism.  If we invoked a global maximum wage we would solve captialisms ills more than any bailout or legal proceeding.