• breadsmasher@lemmy.world
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    1 year ago

    Then why has no one been “rewarded” for huge amounts of productivity increases since the 70s?

    Oh. Right. They “rewarded” the CEO greedclass

  • keeb420@kbin.social
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    1 year ago

    Ok. How far back should we go? I’m feeling the 1970s and go from there. Oh lokkie here it shows that the poor and middle class have doubled their productivity. Oh wait wages have been effectively slashed? Hmm.

    • Aux@lemmy.world
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      1 year ago

      Wages have increased since 1970-s and prices have dropped. Sorry to bust your narrative.

          • UrbonMaximus@feddit.uk
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            1 year ago

            If people spent the same amount of money on housing as they are paying for food, maybe you’d have a point. Even in the link that you’ve provided, people calculated that housing is about x6.1 median salary today compared to x2.7 in 1977.

            • Aux@lemmy.world
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              1 year ago

              I didn’t know you could eat your house… Also overall affordability wasn’t that much better back then. Again, plenty of examples there.

          • BluesF@feddit.uk
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            1 year ago

            Ah yes, as any statistician will tell you - 10 items from one shop is more than enough to determine the impact of inflation over 50 years.

          • julietOscarEcho@sh.itjust.works
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            1 year ago

            It absolutely won’t cost £22 quid, that’s CPI adjusted of course if you read the comment you’re referring to. But yes, in real terms (asking honestly do you know what that means? your comment seems pretty ill informed) food is cheaper. So are some other items like consumer electronics. On the other hand housing and utilities (you know the majority of a household’s spending) has advanced well ahead of inflation. Hence “cost of living crisis” which maybe you think is imaginary.

            Worse, while average earnings have outpaced inflation the bottom end of the distribution has accrued almost none of that benefit. Massive increases in inequality mean that while for the comparatively well off (and the very well off) things are mostly fine for a sizeable chunk of society life has been getting materially harder.

  • Neirin@feddit.uk
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    1 year ago

    I agree that productivity should be rewarded, but that’s not what happens. If you work hard, the company will realise that they can get the same work done with fewer employees and will reduce work hours to increase profits instead of rewarding you.

    • Overzeetop@sopuli.xyz
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      1 year ago

      More importantly, as a centralized bank economy, it’s the government’s fault inflation exists and it is their responsibility, as and employer and monitor of inflation, to make their employees while every year. If productivity increases, that should be paid on top of pay maintenance.

      • Aux@lemmy.world
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        1 year ago

        The government doesn’t have any responsibility for you, it’s not there to serve you. It’s there to govern you and make sure you stay in line.

          • kugel7c@feddit.de
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            1 year ago

            I mean analytically the comment is somewhat correct, the government in most of the world doesn’t actually, take responsibility for you and doesn’t adequately care for it’s citizens despite claiming to be from the people for the people. Liberal government doesn’t really work for the people, it works for the owning class.

  • C4d@lemmy.world
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    1 year ago

    Should a real terms pay cut be accompanied by a compensatory drop in productivity? I think it’s called quiet quitting or something…

  • Krackalot@discuss.tchncs.de
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    1 year ago

    We got that system in the US. I just got my review. Boss says I did great, mentions a couple areas I excelled in. Shows me the review. Everything rated straight down the middle. Turns out when it comes to paying me more, I’m just a medium/ok worker.

    • petenu@feddit.uk
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      1 year ago

      Well, if it’s any consolation, I imagine that there are lots of companies out there who would be more than willing to pay you what you’re worth.

  • Idirian@feddit.uk
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    1 year ago

    In his case, being so incredibly shit and inept, he should be paying billions back then. This duplicitous twat should just fuck off.

  • AutoTL;DR@lemmings.worldB
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    1 year ago

    This is the best summary I could come up with:


    Sunak’s comments come after Bank of England governor Andrew Bailey expressed concerns that pay increases were fuelling inflation.

    The Bank of England is now under renewed pressure to raise interest rates next month after wages jumped more than expected in June, boosted by a one-off payment to NHS workers.

    However, amid recent inflation and rising interest rates, trade unions have taken issue with the apparent blame attached by Bailey and others to wage demands by low and middle earners.

    The Trades Union Congress (TUC) general secretary, Paul Nowak, said on Tuesday: “Real wages are still worth less today than in 2008 after the longest pay squeeze in 200 years.

    An analysis in June by the TUC also found that pay rises for the top 10% of UK earners, including City bosses, had clearly outstripped the rest of the workforce and had been a prime driver of recent inflation and interest rates.

    Sunak trumpeted the public sector pay offers that the government had extended to NHS workers, teachers and others and called for an an end to industrial action by doctors.


    I’m a bot and I’m open source!

  • Bigs@kbin.social
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    1 year ago

    This article is so slimy. Sustainable here really means in relation to the fiduciary responsibility to the board. To use another C-suite term, the sustainable pay rise is often immaterial.