A businessman in Seattle has made news by raising all salaries in his company to $70,000 a year. He’s temporarily lowering his own to the same amount until the company brings in enough profit to pay for the rise in salaries. Dan Price, founder of Gravity Payments, said he wanted to do something to address the issue of inequality.
“The market rate for me as a CEO compared to a regular person is ridiculous. It’s absurd,” Price was quoted in The Seattle Times.
Is Price against capitalism? Isn’t the goal of capitalism to be as efficient as possible? To produce the most goods or services with the least amount of cost to the producer? Isn’t that the Wall Street credo?
Perhaps the principle of the goose who lays the golden egg also applies. Kill the goose, and you have no more golden eggs. Treat your hired hands badly, and they will be uninterested in serving you. They will leave for another employer as soon as they can, forcing you to spend valuable time training someone else to take their place. And unhappy employees will be less productive.
A few employers may have read the Biblical warning to landowners not to reap crops to the very borders of their fields. Leave some, the passage says, for the poor, the widows, and the orphans. Capitalist ownership of land is not condemned. Too much capitalist efficiency is.


We are in the midst of the centenary for World War I. The recent placement of red ceramic poppies in the moat surrounding the Tower of London brought home its horror: a sea of red, 888,246 poppies, representing British commonwealth soldiers killed, only part of the estimated millions of deaths, civilian and military, for all the nations involved. Most of the soldiers were young men in the prime of life, forever unable to live the productive lives that would benefit their nations.
Unless you are an American with Greek roots, you probably didn’t notice that voters in Greece elected what is called a “far-left populist party.” The voters favored a government for the average citizen, not the bankers. They saw the past government as too interested in cutting as much government spending as possible in order to pay debts, no matter the harm to average citizens.