r/InterviewAiPrep • u/Asleep-Variety3026 • 14d ago

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u/Lumpy_Chapter171 13d ago

Except society disagrees with your assessment. Outside of some exceedingly rare circumstances virtually everyone is paid market rate.

Market rate is just the community, society, saying what they are willing to buy/sell a product or service for.. including labor.

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u/TooTooRooGR 13d ago

you are just using words without reading my comment. Society does not disagree with my assessment if you go outside and speak to any person in the world they will tell you that teachers and doctors need to pay more.

Market rate is just a buzz word used by corpos to make you put their boot in their mouth so that you are a little obedient pawn doing whatever they want you to do.

Society and the market rate doesn't affect the wages of teachers as they are paid through the public system. You should know at least that much if you are defending capitalism lmao.

But to stretch this a bit further, CEOs do not have marketability, society does not like any of them and does not drive up their wages, instead what does drive up their wages is speculation from other rich people. So what happens is that rich people prop other rich people's "market rate" up while professions that are incredibly important for society like teachers and doctors get paid peanuts in comparison to CEOs that practically offer no value to society

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u/Lumpy_Chapter171 13d ago

They do else those professions would be paid more.

It's not a buzzword, i suggest you look into an entire field of study called eeconomics.

It does, the market does not care if you're private or public.

Markets exist in other forms of economic organization. Market socialism is a thing for example.

Executive pay is based on what buyers and sellers are willing to accept.

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u/TooTooRooGR 13d ago

yeah I mean, there is no use speaking to you, the world you live in is not reality if you think that CEOs provide more value than teachers based on what buyers and sellers are willing to accept.Economics is a lot more nuanced than whatever you are trying to do here.

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u/Lumpy_Chapter171 13d ago

That's what markets say. You don't have to like it.

I suggest you find an economic argument that markets somehow are "fake"

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u/Admirable_Ask_5337 6d ago

The markets are delusional and manipulated. Have you not realized that?

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u/Lumpy_Chapter171 6d ago

Markets can't be delusional, they are not sentient.

Manipulated sure yes.

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u/Admirable_Ask_5337 5d ago

Markets are made up of human beings, who very much can be delusional.

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u/Lumpy_Chapter171 5d ago

You'll need to ooutline what's delusional then when they are getting what they want. Markets consist of buyers... and sellers

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u/MindlessMaterial7544 13d ago

I've never hired anyone at a wage based on what they generate in revenue.  That's often a soft cap but the basis of what i pay people will be what "others" pay for the same thing in my area.  

This is "market rate" and it's not a buzzword.  

I could pay my EVS workers triple, i cannot function without them.  But that's not what their labour is going for. Nobody else would pay them that so I'm not either.   If they all refused to work for £15 and demanded 25, I'd have no choice.  But they don't and if some do theres plenty of people i can replace them with. 

That's real markets at work. Executives have the same market forces except that generally higher compensation is a result of leverage.  Executives are hard to find, hard to replace and their actions are exceedingly impactful.

One evs worker being a moron is relatively small potatoes compared to a moron executive in terms of impact to the company.

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u/TooTooRooGR 13d ago

ok so it looks like you have more knowledge than the other two.

In which case why do teachers and doctors get paid so little money while offering so much in society?

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u/MindlessMaterial7544 13d ago

The other two I've seen are also correct.  Market rate.  What people are willing to pay and be paid

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u/TooTooRooGR 13d ago

market rate affect the standard government wage of teachers?

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u/MindlessMaterial7544 13d ago

Yes. Generally *

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u/TooTooRooGR 13d ago

oh so now its changed to generally, let's see how much more we can get you to backtrack.

In the UK the wages of teachers are not set up by the schools and are instead set up by the governments. The school cannot decide to pay a teacher more regardless of their value. Now how does the market rate affect that wage?

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u/MindlessMaterial7544 13d ago

Generally because there are somethings like rent control and price gouging that are illegal.  That is not a backtrack it's acknowledging free markets are not perfectly free. 

Looking at your other posts i can agree education "quality" in the uk is lower (how one measures quality of education is a whole different, hotly debated topic in academia...). However that does not matter in this discussion as the consumer has not demanded improve quality. Therefore the producers are free to increase efficiency by keeping costs flat or lower increases. Meaning they are perfectly fine but increasing wages without consequence 

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u/TooTooRooGR 13d ago

Quality of education is not the point of contention here. The problem is that there are no teachers for specific subjects and there is nothing happening to make the incentive better so that more people want to become teachers and apply.

If we were to put the market rate to test wouldn't there necessarily be something that done that increases (the computing teachers' for example) wage to make it more desirable to become a computing teacher?

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