fair wages?

@glamgrl (384)
Ireland
April 27, 2007 11:13am CST
how many $s or £s or euros an hour do you think is a fair wage? i think maybe 12 euros an hour but i have never earn this much myself.
3 responses
27 Apr 07
I personally believe that a fair wage depends totally on where you are living, because wages will be dictated by many factors, and really it depends upon the actual cost of living in the country that you a looking at. For example, wages in the UK are pretty high, and so is the minimum wage, on first glance, it's higher than the US equivalent in both cases, however the cost of living in the UK is astronomical, whereas the cost of living in the USA is much lower, eg. housing, shopping, taxes, petrol etc. so therefore the two sort of net each other off. I do think the minimum wage was a good idea, as it helps prevent, although not eliminate, slave wages. I think that there should probably even be regional variations in the minimum or fair wage, for example living in London - to some extent this happens already with cost of living supplements, but those are minimal in comparison to the true cost of living in such locations. I have therefore not put a figure on what I think a fair wage is, because it depends on too many factors. The wage should also determine the level of responsibility. If everyone had really high wages, then everyone would have more money to spend, and inflation etc would get out of control and prices would rise and it would be a vicious circle. The labour market does need to be flexible, I don't mean that it is right for some people to be on low wages forever and others on loads, more that there should be a step ladder where you start out on lower wages and work your way up, hope that makes sense.
1 person likes this
• Brunei Darussalam
28 Apr 07
Seems like you have a fairly in-depth knowledge about Economics ;) I agree with your arguments above on how high wages for everybody tends to lead to an inflationary upward spiral, which could ruin a country's economy and, thereabout could also bring down the international competitiveness of its exports. I also find your final statement on the 'step ladder' to be a fair and sensible solution.
@Zmugzy (773)
27 Apr 07
Well if you're talking about a minimum wage then 12 euros would be a reasonable wage. If you're talking about a fair wage in general then it depends on the type of work you do, how hard it is and how much training is required. You also have to take into account the standard of living and the cost of living in the particular region that you live in. In some places food and clothes are cheaper than in other places for example.
@bruxedo (773)
• France
27 Apr 07
I agree with you, and I think that programs as mylot can give the owner a big ammount of money and he can see a big compensation for is work is work. It's fair earnings, but it's also tru that he, without us, wouldn't have so much money. I hope that as the bigger the site will be we could have a little bit bigger payments for our participation. :)