Advocates promised the new tax would bring in over $1 billion a year in new revenue. And they quickly saw their predictions surpassed: the state Department of Revenue estimates it will generate over $1.5 billion this fiscal year.
70 times the amount of skill or 70 times the amount of experience or 70 times the amount of physical exertion. Something.
But that’s not how they are paid. Instead, they are paid a market rate. Just like me. And the market doesn’t care how hard you work.
How would you feel if you and a co-worker both closed deals, only you worked much harder and closed a deal that earned the company twice as much money? Should you both be compensated the same?
Clearly not, but because I am paid an hourly wage I get the same amount of compensation no matter how hard I work.
Should your pay be tied to how much you’re earning the company?
Maybe, or maybe just tied to the value of my labor.
That’s not what happens. Instead I am paid a market rate i.e. they pay me as little as they can without causing me to find a different job. They do this to create profits, because all profit is literally just the revenue that’s left over after expenses. I am one of those expenses, ergo-
Ultimately what are they worth?
The market says they are worth 70 times as much as I am.
I’m extremely excited about cybernetic economic planning as AI and quantum computing become a reality.
Central planners couldn’t make a centrally planned economy work with traditional paper book keeping, and even with computers and internet it would be extremely difficult and require an army of bureaucrats so huge it would strain the entire economy. When that process can be automated, with a market AI to handle pricing and supply and production and everything, then we can finally abolish the market.
The problem requires a vast army of bureaucrats to run the system, which is where the corruption comes from. Every additional human component of the system adds another layer vulnerability to bad actors. I think if they were automated away and rendered unnecessary, the central planning AI could run the economy with direct input from the masses. No need for bureaucrats.
Let us assume average CEO-to-worker pay ratio 70-to-1
The CEO does lots of work managing the company.
Do they work 70 times harder than their workers?
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70 times the amount of skill or 70 times the amount of experience or 70 times the amount of physical exertion. Something.
But that’s not how they are paid. Instead, they are paid a market rate. Just like me. And the market doesn’t care how hard you work.
Clearly not, but because I am paid an hourly wage I get the same amount of compensation no matter how hard I work.
Maybe, or maybe just tied to the value of my labor.
That’s not what happens. Instead I am paid a market rate i.e. they pay me as little as they can without causing me to find a different job. They do this to create profits, because all profit is literally just the revenue that’s left over after expenses. I am one of those expenses, ergo-
The market says they are worth 70 times as much as I am.
They are not.
deleted by creator
I’m extremely excited about cybernetic economic planning as AI and quantum computing become a reality.
Central planners couldn’t make a centrally planned economy work with traditional paper book keeping, and even with computers and internet it would be extremely difficult and require an army of bureaucrats so huge it would strain the entire economy. When that process can be automated, with a market AI to handle pricing and supply and production and everything, then we can finally abolish the market.
deleted by creator
Yes it’s been tried before, but computing power has advanced so far beyond the 20th century when it was attempted last. We can do it.
deleted by creator
The problem requires a vast army of bureaucrats to run the system, which is where the corruption comes from. Every additional human component of the system adds another layer vulnerability to bad actors. I think if they were automated away and rendered unnecessary, the central planning AI could run the economy with direct input from the masses. No need for bureaucrats.