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I am agnostic on whether CEOs are overpaid but to imply that inequality impoverishes workers is not true. The conflation of inequality with suffering is simply not logical.
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Every time this number ticks up, millions of workers are impoverished. What will you do to help reverse this epidemic? #FightFor15
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Don't know what you mean by "material utility." Humans certainly compete for status. But an increase in the compensation of CEOs does not impoverish me, you, or poor people. Plus as once said, "wealth is not a pizza." Bigger shares for some doesn't mean less for others
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I mean the material living standards that economists love to rhapsodize about. Status is more not a footnote effect. More inequality = more layers. More social layers between bottom and top = more stress at bottom.
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Let us not forget that less than 10% of Americans work for Fortune 500 companies, and over 95% of American businesses have less than 10 employees. Majority of Americans work for small businesses. Real poverty has nothing to do with "power gradients" which is a separate issue.
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The tweet quoted specifically makes the point that if CEO pay goes up, it makes workers ‘impoverished ‘ - Russ is just pointing out this is a simplistic and erroneous assertion. Say every year worker pay and CEO pay go up 3% - even in that scenario the total dollar ratio goes up
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