Judgey-
"A minority of top bankers do, yes. The majority of the public who work in banking and finance aren't paid anything like those at the top."
I was being tongue in cheek with my remark but the fact remains that banking is a hugely popular career choice and is largely de-unionised.
It's not hugely popular. There are many people who work in finance in the UK because it is a large part of the economy. I'm not sure if they're heavily unionised or what - who cares?
Incidentally, I'm glad you concede that not all bankers eat the poor for breakfast - I've tried defending the banking minions on here before and been slammed for my views.
Probably because you weren't defending the poor bank clerk on £18K per year but the people who make executive decisions which impoverish millions.
"Those who are either highly skilled or have skills which are in high demand will always be able to command a higher salary"
The unions represent those without particularly high skill sets and hold the country to ransom for a higher salary. I don't think that's particularly fair.
Firstly, your first statement is false.
Secondly, go complain about top CEOs of banks and the banks themselves which threaten to go oversease if they're not given multi-million pound bonuses and tax exemptions.
Do you think that is also: 'holding the country to ransom'? Or is it 'merely Capitalism' - or is it both?
Why is it that when workers fight for decent wages it is 'holding the country to ransom', but when CEOs demand millions in bonuses or they will leave the country, it is 'the free market'?
"[unions] exist to fight for the rights and wages of employees, public sector or private sector."
This is hardly true considering the private sector has largely abandoned the union movement. As I said earlier, the only reason they still hold sway in the public sector is because the public sector isn't exposed to the economic realities of profit and loss and can simply keep tapping up the taxpayer for ever more money. The unions haven't managed to kill the golden goose yet like the unions did for so much of Britain?s heavy engineering. The north of Britain is still coming to terms with that loss.
Union membership in the private sector has declined because unions themselves have been attacked and disempowered. This is the result of neo-liberal ideology and mainly occurred during the Thatcher years but continues today.
"Ah yes, firing people and making fewer people work harder for less. That's a recipe for success and prosperity."
You really don't understand economics at all do you! It isn't a question of making people work harder for less, it's about making people produce more for less and it's the basis for all of the wealth in the world.
I'm afraid you don't understand economics. Technological innovation is quite a different thing from suppression of wages. Of course technology has made mankind more productive. So what? How is that a defence of paying people as little money as possible to produce as much as possible at their jobs?
What actually happens when you do this, as Henry Ford made clear in his principle: "Pay people enough wage to buy the products they produce", is that Capital accummulates, but people don't have any money to buy anything, so the economy stalls:
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In 1914 Henry Ford shocked the business community. He doubled the wages of his workers. His company prospered. Fourteen years later in 1926, he did it again.
He cut the work week from 6 days a week to 5 days a week. He maintained the pay for his workers the same as it was for 6 days. Mr. Ford?s company prospered. There were driving principles that lead to Mr. Ford?s actions. They were good for business, and good for America. Over the last few decades, American companies have ignored those principles and government policies have supported those decisions. The American economy is now paying the price.
Read more at Suite101: The Wisdom of Henry Ford: The Economic Crisis and its Origins | Suite101.com suite101.com/article/the-wisdom-of-henry-ford-a72661#ixzz21R6W0TWc
suite101.com/article/the-wisdom-of-henry-ford-a72661
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[snip history]
As for your table of figures, Norway features so highly because of its oil fields and low population whilst Luxembourg is a tax haven - Rock on Comrade!
Yeah, great comeback. The principle remains. Socialist countries can and are highly productive - some moreso than supposedly 'free-market' economies.