Cleaners worth more to society than bankers, says thinktank

[CHIMO]

Hospital cleaners are worth more to society than City bankers, according to a report that shows many low-paid workers increase the wellbeing of the nation more than the high-flying and much better-paid financial-sector staff.

The New Economics Foundation said today that a study of the social impacts of several jobs revealed that City workers, advertising executives and tax advisers destroyed value, while hospital cleaners, childcare workers and staff in the waste-recycling industry gave much more to the country than they took out.

The thinktank said it had found a way to calculate how much someone should be paid in relation to the value they create through a series of measures including conventional economic returns, environmental impacts, and knock-on effects for jobs and wellbeing in society.

It said the report challenged the notion that high pay did not matter as long as poverty was eradicated. It argues that high pay is often generated by businesses that destroy other parts of the economy or fail to pay the full costs of their activities.

http://www.guardian.co.uk/business/2009/dec/14/new-economics-foundation-social-value

[Deja Q]

1. So are janitors. According to the law of "supply and demand", it's a job nobody wants,

therefore it should be paid more just to attract more workers to it.

Then again, "supply and demand" is as much as spun, spurious concept as "free market" and "free trade" are... After all, "dangerous drugs from Canada should not be imported! (while the news reports a drug being recalled back to China)" speaks volumes, even if the China recall I am remembering is from 2007...

[Mithreal]

9. "a job nobody wants" is rightwing rhetoric

Pay a living wage and people will do any job.

This reminds me of the bullshit talk of John McCain.

http://www.youtube.com/watch?v=rWOZKeOauNI

Bad enough that our elected leaders are repeating this shit when there are so many out-of-work, sick, homeless and hungry.

Please refrain from repeating this nonsense.

[zazen]

2. k&r

[pscot]

3. Bankers are blood sucking parasites

The more money they make, the weaker the rest of us become.

[yorgatron]

4. K&R

:kick: :kick: :kick:

[BanzaiBonnie]

5. Those who care for children, the elderly and disabled

Teachers, nurses, the service that nurses provide is still of more value than what they are paid for, though they are beginning to get better pay, lots of "little people" work harder and provide more service to society than the banksters.

It's been an upside down system for far too long.

[ixion]

6. just about anyone is worth more to society than a banker

in my opinion.

[Journeyman]

7. This goes back to the old allegory of the organs arguing over who's ruler of the body. . .

It's the lowly anus, of course, for if he doesn't do his job, pretty soon none of the other organs can function at all.

So it is with society. If the sanitation workers and assorted caretakers in society don't do their work, it isn't long before none of the rest of us can do ours, either. I only wish they could be compensated in line with this recognition of the value of their contributions.

[ThomCat]

8. This will, unfortunately, become economic trivia

known only to liberal economists. I doubt any legislators or policy makers are going to take this seriously and base policy on it. I doubt corporations are going to start basing pay rates upon this. :(

It would be nice if pay rates started to be based on value created for society, but it won't happen.

[Mithreal]

10. Living Wage is a start.

[Mithreal]

11. Also posted in LBN, link for visibility in case missed discussion

http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=102x4183309#4183864