Saturday, October 21, 2006

Max wages for all! Up with the poor, down with the rich!

Culture: Truly hilarious look into the mind of a wacked out socialist from the Guardian.

When democracy lost its grip on the City of London The Big Bang fuelled gross inequality, epitomised possessive individualism and cemented a cultural and housing apartheid Martin Kettle Saturday October 21, 2006 The Guardian
Read the whole thing, but this is the meat.
Inescapably the Big Bang has had its profoundest local impact in London itself. Look at the skyline east of St Paul's. Some of these effects are good for middle-class Londoners more generally, like the transformation of the capital's restaurants. Others bring entertainment to all, like the Abramovich-bankrolled revolution at Chelsea. But the impact on the housing market has been brutal for the poor and is increasingly unmanageable for the young. In a report from the centre-right think tank Policy Exchange this week - significantly entitled What Future For Maggie's Children? - the shadow cabinet's David Willetts admits that home ownership has become an ever harder aspiration to fulfil. The Big Bang came to embody the loadsamoney possessive individualism that evolved around it in Thatcher's Britain. And, although the City suffered an early shock to the system in the 1987 crash, and although life in the City has become less dramatic, it still embodies it today, 20 years on. The big difference now is that the divide has become so uncontroversially institutionalised entirely on the City's terms. What Anthony Sampson described as long ago as 1982 as "like an offshore island in the heart of the nation" has today become the engine of what the City's historian David Kynaston calls "a widening discrepancy between the workers' republic in the square mile and the rest of the island". Executive earnings are by no means the only yardstick by which the City's cultural apartheid from most of the rest of British society can be measured, but they are almost certainly the most dramatic. Just this week, Incomes Data Services produced figures showing that the average company boss's pay rose by 43% last year, with the chief executives of the UK's 100 largest listed companies earning an average of £2.9m. The typical boss now earns 86 times more than the typical employee. And even these stratospheric earnings barely keep pace with those to be harvested at the top of specialist investment firms. There's no way in which any of this is remotely proportionate to the world in which the rest of us live. The City of London is surrounded by millions of people who know it is morally wrong, who would probably favour a maximum wage as well as a minimum one, and who think that the rich should pay more tax to provide better services for the rest.But the simple truth is that they know there's nothing they or anyone else can foreseeably do about any of it.
A lot of words and angst to get to the "the rich sucks, its not fair" rountine you get from these socialists who just hate the fact that in the world there are people who are more successful than others. The only way this fantasy would come about is to physically keep people in place to be the host body for the parasitic social programs you wish for them to pay for being successful. If anyone tried too do that, those people the can do's of the city would simply move somewhere else. Impose a max wage and the best/brightest would cease to exise because there is no incentive to excel if you know you have a limit.

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