Bin men and women have jobs that no one else wants. That is why they are important. It seems very practical to incentivize jobs, not just for the qualifications needed for the position, but for how essential it is for society's function.
Brilliant video. I totally agree with the sentiment - the guys cleaning fatberg blockages out of the sewers deserve to be millionaires, not theCEO's of exploitative fast fashion chains.
I agree. Bin men should be paid far more than bankers, as should nurses, postmen, teachers, care workers, cleaners, bus drivers and all the other frequently ignored workers who earn no bonuses, live on low salaries and keep our societies functioning.
I listened to all of that, the sentiment is really good, who wouldn't want local doctors and nurses to be paid more than bank CEO's and millionaire footballers? It is however a terrible idea and would never work as highly paid individuals are usually paid not on their level of hard work but on the value of that work to whoever is paying them. Bin men are paid by the local councils and their budget is covered by the council tax charged to the people of the district; are we suggesting a 500% increase in council taxes? NHS doctors and nurses are paid for by the tax payers (including the "bankers"), are we suggesting that to pay them more money we raise tax levels or simply take their new budget from education or national security? Again great sentiment but that's all it is.
Errr... the moment you raise binmen salary, someone will offer the same binmen service with lower salary. Jobs also follow the supply and demand curve. Menial jobs tend to have high supply (because most ppl can do it), thus driving the salary down
If that were true then all binmen would be making minimum wage, which clearly isn't the case. Also a strike wouldn't have worked if it were that easy and there were that high a supply of potential garbage men. The thing is that is a necessary job that most people don't want to do, so you have to pay a competitive wage to attract people to that job. Simply put if you pay your menial labourers low wages with few benefits then they WILL organize and strike and you'd soon find out how hard it is to actually replace and train an entire workforce, instead of just paying hard workers a reasonable wage.
@@TheTralfalmadorian i was responding to the video, which ignores the job market completely. If we only care abt the importance of a certain job in our life, then farmers should get the highest salary, because food is the main necessity in our life. But obviously thats also not the case
And yet there are many essential jobs today that we are having a lot of trouble filling and which is resulting in absolute chaos. If anything the pandemic has shown us which jobs are essential and which aren't.
But what drives salary bis demand and supply. I agree with contribution to society but bin men, teachers, nurses are available in plenty which is why they get paid less. They loose in the negotiation. Why do we get educated 20-25 yrs as children? It's an investment we make to belong to the rare club
There is actually a shortage of nurses, at least here in Texas. I heard that all the time while I was in college. Lots of younger ladies who already worked in the healthcare industry or who were going into the industry explained that nursing is a job that is in short supply. They explained that the jobs have only become harder and harder due to very long hours, so many people today aren't considering becoming a healthcare provider as much as people did in the past.
Plenty of shortages in teachers around the world too. And probably one of the few reasons why there's enough bin men is because a lot of them have to do that job as community service.
I agree with the importance of binmen, and I too hope to improve their lot. However, I disagree with how to go about it. I don't think they should earn more than bankers. A banker isn't societally crucial but they do help accelarate growth and facilitate the acquisition of capital. That has value. Rather, I just want a world where binmen and bankers are awarded the same respect and have no fear of ever being too broke to take care of themselves or their family.
The evidence he provided counteracts that. Bin-men went on strike, state of emergency. Bankers went on strike half a year, economic growth remained the same and essentially nothing happened.
@@TheAnnoyingMop Because nothing's gonna stop people from getting the capital they need to function. The bankers just make it more convenient. When they're gone? People still find ways. You can't do the same thing with binmen and public sanitation jobs. Again: The bankers aren't neccessary for a functioning society. But they do have a place. They came to be because there was a societal need for people to manage/provide capital.
Read utopia for realists. He goes in much more depth on the subject and shows how bankers really don't provide anything of value. We are just told that, but in practice we can do very well without them.
@@pawaniyer lol no European countries claim that they are socialist, they are at least social democracies. It means that people who use word socialism without context don't know what they are talking about.
You got paid higher not just because of degres from Oxford or Cambridge (although it happens often), but because the skillsets required for that high paying job is harder to acquire, thus can create more value
higher value my ass skill sets as how to fu** up thousands of people... see goldman sachs or lehman brothers getting a slap on the wrist instead of locking them up for good in solitary confinement or make them showel cow shit for the rest of their days
most jobs require skills to be learned in the job, which is true for both low and high paid jobs. the things you learn at school are not necessarily for a job but to make you a better person all around, that's why highly educated is better but not always necessary (Richard Branson, Rockefeller, Horace Greeley, John Glenn, Steve Jobs, Mark Twain , Henry Ford, William Shakespeare, Winston Churchill Abraham Lincoln, Albert Einstein) allthough it most be said that einstein in the end got his phd.
Acquiring a degree doesn't shift the importance of necessary jobs. If the economy comes to a stand still, a trash man is likely to retain their job over an investment banker.
And this guy fancies himself a historian LMAO. Must have skipped over every part of history that involved people like Pol Pot and Stalin. they would no doubt share this sentiment.
Bin men and women have jobs that no one else wants. That is why they are important. It seems very practical to incentivize jobs, not just for the qualifications needed for the position, but for how essential it is for society's function.
Brilliant video. I totally agree with the sentiment - the guys cleaning fatberg blockages out of the sewers deserve to be millionaires, not theCEO's of exploitative fast fashion chains.
Start with yourself.
If you're earning more than your neighborhood cleaning guy, give him/her the difference in your salaries
Precious precious thoughts
Thank you brother so much
Also thank you to channel
I agree. Bin men should be paid far more than bankers, as should nurses, postmen, teachers, care workers, cleaners, bus drivers and all the other frequently ignored workers who earn no bonuses, live on low salaries and keep our societies functioning.
I listened to all of that, the sentiment is really good, who wouldn't want local doctors and nurses to be paid more than bank CEO's and millionaire footballers? It is however a terrible idea and would never work as highly paid individuals are usually paid not on their level of hard work but on the value of that work to whoever is paying them. Bin men are paid by the local councils and their budget is covered by the council tax charged to the people of the district; are we suggesting a 500% increase in council taxes? NHS doctors and nurses are paid for by the tax payers (including the "bankers"), are we suggesting that to pay them more money we raise tax levels or simply take their new budget from education or national security? Again great sentiment but that's all it is.
lol imagine being american
Privatisation of healthcare and menial services???
Elon can correct this ✅
Tee-hee-hee-hee! Today I learned another incredibly silly sounding thing that British people say. "Bin men." *giggle*
americans be like "osama can laden"
Errr... the moment you raise binmen salary, someone will offer the same binmen service with lower salary.
Jobs also follow the supply and demand curve. Menial jobs tend to have high supply (because most ppl can do it), thus driving the salary down
If that were true then all binmen would be making minimum wage, which clearly isn't the case. Also a strike wouldn't have worked if it were that easy and there were that high a supply of potential garbage men. The thing is that is a necessary job that most people don't want to do, so you have to pay a competitive wage to attract people to that job.
Simply put if you pay your menial labourers low wages with few benefits then they WILL organize and strike and you'd soon find out how hard it is to actually replace and train an entire workforce, instead of just paying hard workers a reasonable wage.
@@TheTralfalmadorian i was responding to the video, which ignores the job market completely. If we only care abt the importance of a certain job in our life, then farmers should get the highest salary, because food is the main necessity in our life. But obviously thats also not the case
Bollox.
Centrioless no, farmers are not...also his point
And yet there are many essential jobs today that we are having a lot of trouble filling and which is resulting in absolute chaos.
If anything the pandemic has shown us which jobs are essential and which aren't.
But what drives salary bis demand and supply. I agree with contribution to society but bin men, teachers, nurses are available in plenty which is why they get paid less. They loose in the negotiation. Why do we get educated 20-25 yrs as children? It's an investment we make to belong to the rare club
There is actually a shortage of nurses, at least here in Texas. I heard that all the time while I was in college. Lots of younger ladies who already worked in the healthcare industry or who were going into the industry explained that nursing is a job that is in short supply. They explained that the jobs have only become harder and harder due to very long hours, so many people today aren't considering becoming a healthcare provider as much as people did in the past.
Plenty of shortages in teachers around the world too. And probably one of the few reasons why there's enough bin men is because a lot of them have to do that job as community service.
I agree with the importance of binmen, and I too hope to improve their lot. However, I disagree with how to go about it.
I don't think they should earn more than bankers. A banker isn't societally crucial but they do help accelarate growth and facilitate the acquisition of capital. That has value. Rather, I just want a world where binmen and bankers are awarded the same respect and have no fear of ever being too broke to take care of themselves or their family.
The evidence he provided counteracts that. Bin-men went on strike, state of emergency. Bankers went on strike half a year, economic growth remained the same and essentially nothing happened.
@@TheAnnoyingMop Because nothing's gonna stop people from getting the capital they need to function. The bankers just make it more convenient. When they're gone? People still find ways. You can't do the same thing with binmen and public sanitation jobs.
Again: The bankers aren't neccessary for a functioning society. But they do have a place. They came to be because there was a societal need for people to manage/provide capital.
Read utopia for realists. He goes in much more depth on the subject and shows how bankers really don't provide anything of value. We are just told that, but in practice we can do very well without them.
@@acmulhern i should read more of his books, i loved human kind
Do bankers help grow our society now? What was 2008 all about again?
Ahh. Socialism. Sounds perfect right...
Norway's economy has made a perfect balance using both capitalism and socialism.
It's funny how effective anti-socialist propaganda has been in the US.
@@Grrrrrrrrrrrrrrrrrrrrr_ the red scare 2.0
@@pawaniyer lol no European countries claim that they are socialist, they are at least social democracies. It means that people who use word socialism without context don't know what they are talking about.
i don't think bregman directly advocated for socialism here
You got paid higher not just because of degres from Oxford or Cambridge (although it happens often), but because the skillsets required for that high paying job is harder to acquire, thus can create more value
higher value my ass
skill sets as how to fu** up thousands of people... see goldman sachs or lehman brothers getting a slap on the wrist instead of locking them up for good in solitary confinement or make them showel cow shit for the rest of their days
most jobs require skills to be learned in the job, which is true for both low and high paid jobs. the things you learn at school are not necessarily for a job but to make you a better person all around, that's why highly educated is better but not always necessary (Richard Branson, Rockefeller, Horace Greeley, John Glenn, Steve Jobs, Mark Twain , Henry Ford, William Shakespeare, Winston Churchill Abraham Lincoln, Albert Einstein) allthough it most be said that einstein in the end got his phd.
We are full of harvard graduates dedicated to destroy value the time they decide to pursue Wall Street careers.
Acquiring a degree doesn't shift the importance of necessary jobs. If the economy comes to a stand still, a trash man is likely to retain their job over an investment banker.
we have made that all up
And this guy fancies himself a historian LMAO. Must have skipped over every part of history that involved people like Pol Pot and Stalin. they would no doubt share this sentiment.
Keep crying
@@40yearoldvirgil15 keep repeating history