Should MAJORITY RULE determine what we produce and consume?
What the price should be? what color your shirt should be?
Paying someone less because they are younger and do not know the value of their work is FRAUDULENT. It is taking advantage of them.
You appear to be taking for granted that there is such a quantity as "the value of their work" available to be known. Value is subjective. Different people have different sets of values. When somebody values a good or service differently from how much you value it, that does not mean the other guy is committing fraud. And when two other people negotiate an exchange rate between what they trade to one another, it is not safe for you to take for granted that one of them would hold out for more if only he weren't being deceptively kept in ignorance of how much
you value what he is offering.
Which is my point. There is a minimum set up on
"value" through cultural values by applying majority rule upon representation.
That minimum "value" of any job paying a wage to a human is "the minimum wage".
Maybe it's democratic. But this is mobocracy democracy doing more harm than good.
Many decisions in society make us worse off by having it voted on by the general population or by their representatives. The ones who really determine the "value" of something are those individuals who produce it and those who pay the cost of the production. Outsiders not involved as either the producer or buyer of it do not know what the "value" is. The real value of it is determined by the buyer's demand for it in relation to the producer's effort or difficulty required in order to produce it. These are what constitute the "value" of something being bought or sold in the market. Not the vast sprawling population taking a vote on it. I.e., on something that's none of their business.
The value of their work is additionally available in looking at the value of the company, as a percentage of their profits.
No, a janitor doing the same work at Joe's bar is no less valuable than one doing it at the most expensive hotel, except if the latter wants to outbid Joe to attract more applicants. The value of the worker is not determined by how much profit the employer is making. In some cases the fancy establishment is a more pleasant environment, making that job more pleasant and thus more attractive to the worker and thus
even worth a lower wage, because unpleasant work has to be paid higher.
If the company is turning a profit, especially the record profits we see today, then it is clear someone is being fucked on value.
Maybe the taxpayers are being fucked, because that company should pay higher taxes. But it's not the company's workers who are being fucked. If the company really needs that particular worker in order to gain that higher profit, it's paying that worker more, because there are other companies who will compete for that more valuable worker by offering a higher wage. It's only the higher-value performance of the worker that merits a higher wage, not the higher profit of the company.
If the company can't figure it out, it's up to the government to FINE them for not doing the work to figure it out, and TAX them on . . .
No, that means higher and higher cost of production, as the company has much more work to do in order to serve consumers = higher prices for all. Plus also the gov't must increase taxes in order to pay all those additional experts needed to figure out how much more each company must pay = more gov't waste and higher debt and more bureaucrats being wasted instead of doing needed work.
. . . TAX them on those profits, and then PAY the balance of those taxes to the least paid people at the company.
Why do you want to make everyone worse off? Punishing producers for saving on cost only makes the economy worse, and thus makes everyone poorer. Your formula would only make all the poor worse off as consumers, by driving up virtually all the prices they must pay. Punishing producers by artificially driving up their cost of production makes all the consumers worse off.
Because it's NOT true that value cannot be quantified.
It can be, and it's the marketplace which quantifies it. The intersection of supply & demand is the best quantifier of the value. Whereas artificial interference by gov't (especially when it's driven by Marxist employer-bashing fanaticism) destroys the good work performed by the market, punishing the better producers and rewarding the worse ones, sending false signals to producers = less gets produced = lower living standard for all consumers.
We have a bunch of people who all need and want jobs to survive, who all offer to participate in our economy.
They produce more and better if the gov't stays out of it and doesn't discourage their better performance by trying to dictate wages and prices and imposing its unfounded theories about "value." The value of their participation is their better performance in serving the demand, not outside interference which reduces participation.
Trying to treat value, something we as a society quantify as money, as unquantifiable, as . . .
It's not unquantifiable. It's the market, driven by supply & demand, which best quantifies it. As long as we let the market do its job, the "value" is very efficiently quantified.
. . . as an excuse to treat some folks as if their work doesn't have value on account of their age or personal priorities, is honestly sick.
There are a million factors which make their work more valuable or less valuable. In some cases an ugly person is discriminated against. This is a legitimate factor along with all the other million factors.
A restaurant might discriminate against ugly applicants, or against males (because customers prefer females to serve them), and many other factors. It is Wacko Economics to pretend that some outside experts can interfere in the hiring and wage-level decisions to impose 100% fairness onto all the hiring and compensation decisions.
There are millions of complaints the gov't could try to adjudicate, to impose "fairness" onto every producer of any kind, and thus drive up the cost of business throughout the economy = higher prices and lower living standard for all.
We are all better served by the producers if we let each of them, workers and employers, decide for themselves individually what works best for them, without interference from outsiders who are not doing that work or paying those costs. Those who sacrifice in order to directly produce or consume something make the best decisions individually to quantify the value of what is produced or consumed.
-- unless one party is committing fraud -- in which case gov't has a legitimate role to interfere.