Dan Price raises minimum wage at his company to $70,000 a year

[barbos]

Price cheerleaders here should go and find some economists who would sign on it.

 

[bilby]

Price cheerleaders here should go and find some economists who would sign on it.

Wait, what? There are economists who specialise in interpreting economic debates for the hard of hearing? Is there like a special sign language just for economists?

 

[barbos]

Price cheerleaders here should go and find some economists who would sign on it.

Wait, what? There are economists who specialise in interpreting economic debates for the hard of hearing? Is there like a special sign language just for economists?

Does nor parse.

 

[Ford]

Price cheerleaders here should go and find some economists who would sign on it.

Price detractors here should list the companies they run, their income, and proof that their own business endeavors are more successful than Gravity Payments.

Because unless this happens, what we have here is free market enthusiasts criticizing the actions of someone who has actually made it in the free market. Or to use a sports analogy, you, dismal, Loren, Max, etc. are like fans at a baseball game bitching about the pitching. The guy on the mound may be having an off night, but I can pretty much guarantee that if the team took the loudest fan out of the stands and put him on the mound, he wouldn't be able to get one across the plate let alone in the strike zone.

 

[WAB]

We can't read his mind, though we're free to guess. This is just the Peanut Gallery after-all. No harm done. Have a Foster's on my dime, DBT, ye mysterious being from the Underworld. I almost typed 'underwear."

Sorry if I typed rot, bilby. I'm not a super-genius, just a sub-genius. And I make a mean sub, by the way.

...sub, by the way...subway....

In touch with some Reality beyond the gilded cage. Yep. Where's my aluminum-foil hat?

We don't have to read his mind because we can read his words!!!! For fuck's sake people, I've repeatedly quoted the man stating his reasons and stating that he did not do this as charity. Are you and dismal and Aluxus accusing Dan Price of being a liar about his own motives?

No. I didn't read carefully enough and jumped in without sufficient information.

 

[barbos]

Price cheerleaders here should go and find some economists who would sign on it.

Price detractors here should list the companies they run, their income, and proof that their own business endeavors are more successful than Gravity Payments.

Because unless this happens, what we have here is free market enthusiasts criticizing the actions of someone who has actually made it in the free market. Or to use a sports analogy, you, dismal, Loren, Max, etc. are like fans at a baseball game bitching about the pitching. The guy on the mound may be having an off night, but I can pretty much guarantee that if the team took the loudest fan out of the stands and put him on the mound, he wouldn't be able to get one across the plate let alone in the strike zone.

I presume you run a company?
What is the name of the company?

 

[WAB]

An employee with little or no skills, earning the same as an employee with advanced skills...

Let's stop right there. Go find evidence that any of the employees at Gravity have "little or no skills" and post it here with links back to the original source. Then you can continue your rant and we will parse further.

- - - Updated - - -

Good ing that's not what he is doing then, isn't it?

Say again?

Good thing that's not what he is doing then, isn't it?

My post reflects what I've always thought and currently think about the idea of paying lesser skilled employees as much or nearly as much as highly skilled employees—or, more correctly, far more than a typical lower-end worker would ordinarily receive. I was not strictly referencing Price and his company nor his motives, but the effectualness of that sort of administrative move in general, using Price as a springboard for more discursive conversation and argument. This happens frequently on discussion boards. But it's fine by me if you don't agree with my views. Disagreement is healthy.

Sorry about my jumping off half-cocked, though. See my previous post. I'll try not to keep doing that.

 

[Ford]

Price detractors here should list the companies they run, their income, and proof that their own business endeavors are more successful than Gravity Payments.

Because unless this happens, what we have here is free market enthusiasts criticizing the actions of someone who has actually made it in the free market. Or to use a sports analogy, you, dismal, Loren, Max, etc. are like fans at a baseball game bitching about the pitching. The guy on the mound may be having an off night, but I can pretty much guarantee that if the team took the loudest fan out of the stands and put him on the mound, he wouldn't be able to get one across the plate let alone in the strike zone.

I presume you run a company?
What is the name of the company?

I presume you missed the point of my post.


I am not calling Price's business acumen into question.


On the other hand, you said (and I quote):

I think this thing will fail spectacularly

Perhaps you can explain why you are qualified to make such a judgement.

 

[barbos]

I presume you run a company?
What is the name of the company?

I presume you missed the point of my post.


I am not calling Price's business acumen into question.


On the other hand, you said (and I quote):

I think this thing will fail spectacularly

Perhaps you can explain why you are qualified to make such a judgement.

Well, I have PhD in physics and unlike Price actually have wasted some time through couple of basic courses on economics. I call it wasted time because people with PhD in physics by default are more than capable to get the basic stuff in economics without going through formal cources. I am certainly more educated than Price and vast majority of the businessmen.
Everything Price detractors have said so far is true. By paying unnecessary more than competitors he made himself less competitive. All competitors need to do now, wait a little and reduce prices and Price and his little experiment are history, or do nothing and let him die slow death. 70K minimum wage is absolutely not sustainable unless you are law firm or you have nice monopoly/cartel.

Also, I call bullshit on Gravity payment management and such being OK with having the same salary as former $35k just out of school people. Despite what a lot of people think middle management do earn their money. Even CEOs earn their money, not $50mil but certainly $1mil or so.

Now, go and find me single economist who would sign on Price experiment.

 

[Ford]

Well, I have PhD in physics and unlike Price actually have wasted some time through couple of basic courses on economics.

What's the name of your corporation, again?

 

[barbos]

Well, I have PhD in physics and unlike Price actually have wasted some time through couple of basic courses on economics.

What's the name of your corporation, again?

What is your PhD in?

 

[Ford]

What's the name of your corporation, again?

What is your PhD in?

You've claimed to be a better businessman than Price. You go first.

 

[barbos]

What is your PhD in?

You've claimed to be a better businessman than Price. You go first.

No, that's not what I claimed.
I claimed to be better economist than Price.

 

[Ford]

You've claimed to be a better businessman than Price. You go first.

No, that's not what I claimed.
I claimed to be better economist than Price.

So if you're a better economist, then why aren't you making more money than Price?

 

[laughing dog]

Well, I have PhD in physics and unlike Price actually have wasted some time through couple of basic courses on economics. I call it wasted time because people with PhD in physics by default are more than capable to get the basic stuff in economics without going through formal cources.

I know many people with physics backgrounds who have taken economics. Typically, they are excellent with the mathematics and utterly lousy with the economic reasoning.

I am certainly more educated than Price and vast majority of the businessmen.

Using your rationale, that is irrelevant unless you run a business.

Everything Price detractors have said so far is true. By paying unnecessary more than competitors he made himself less competitive.

That is only true if his pay is "unnecessary". However, if it spurs productivity and/or reduce staff turnover sufficiently, it may increase profits.

All competitors need to do now, wait a little and reduce prices and Price and his little experiment are history, or do nothing and let him die slow death. 70K minimum wage is absolutely not sustainable unless you are law firm or you have nice monopoly/cartel.

That is your opinion. It may turn out correct or it may not. Let's wait and see.

Now, go and find me single economist who would sign on Price experiment.

I am a professional economist, and I think the experiment is interesting.

 

[RavenSky]

I find it highly amusing that Barbos thinks he is better educated than Dan Price. I guess Barbos has access to Dan Price's education transcripts and will post them here along-side his own for all of us to see for ourselves.

I won't be holding my breath for that to happen though

P.S. Dan Price is the success he is because he is the one who under-cut his competitors and provided better customer service.

 

[Ford]

I find it highly amusing that Barbos thinks he is better educated than Dan Price.

Actually, it reminds me of a guy I worked with a few years back who was - to put it mildly - independently wealthy. He never went to college, but he'd been pulling in seven figures a year for two decades before I even met him. He doesn't have a PhD. Hell, he's barely got a GED. But he's worth north of a hundred million dollars.

 

[WAB]

Minimum pay rate in America is a disgrace...

And how:

MW for Arizona, Rome.

 

[DBT]

I think this thing will fail spectacularly

Not because of anything Dan Price has done. If it fails, which I doubt, it'll fail because of there are external vested interests in seeing it fail. It's probably seen by hard core capitalists as setting a bad precedent, raising expectations for better pay amongst the 'lower classes.'

 

[Bomb#20]

Price cheerleaders here should go and find some economists who would sign on it.

Wait, what? There are economists who specialise in interpreting economic debates for the hard of hearing? Is there like a special sign language just for economists?

Does nor parse.

Bilby was just making a pun. When you said "sign" you meant "write their signature"; but the verb "sign" has a second meaning in English: "make the hand movements that deaf people use to communicate"; and bilby thought it would be funny to pretend you meant that.