[LINK] I'm going to throw something out there...
Deus Ex Machina
vicc at cia.com.au
Tue Feb 17 22:39:19 EST 2004
Craig Sanders [cas at taz.net.au] wrote:
> > you are *obscenely* overpaid relative to the average chinese.
lead by example then. do to your salary what you expect "overpaid" CEOs to do.
> also, from the user's/consumer's point-of-view, profit is an unneccessary and
> undesirable inefficiency. profit inherently means that they are paying more
> than what the service costs to provide and maintain.
well no it doesnt. profit is the reward for taking risk. what you are saying
is nobody should get any reward for taking any risk. that doesnt sound
like a world that is going to get far beyond the stone age. different
cultures have different ideas of what acceptable rewards are, and interestingly
it seems the cultures that dont limit rewards are the ones that thrive and progress the
quickest. modern cultures that have attempted to cap reward have been completly
trounced by cultures that dont. and when you think about it, unlimited reward
means greater risk will be undertaken with the potential for far greater value being generated
for all concerned. and I again use the word value not necessarily in a cash sense.
if you are sitting there thinking should I invest my time, energy and resources
in a very high risk venture that gets the same reward as a venture with very little
risk well thats a no brainer. and again "reward" need not be financial it could
be simply recognition.
but to return to your point, the public indeed supports companies making a fair
return on equity.
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