The consensus is that it's his company, he can do as he likes. He may be figuring that his generously paid workers will be grateful and more enthusiastic and hence will make him more money so he can cover the additional expenses. He also has less taxable income if he pays out more in wages.

On the other hand, if his people get complacent because their pay is not in proportion with their productivity, and they get all that money no matter how lazy they are, the plan will backfire. On the third hand, they won't want to go work for anyone else with a big cut in pay, and Price will have his loyal, well-trained, hard-working staff. Time will tell.

In the meantime, he is reinforcing the wrong memes: the belief that people should be paid more, that their pay need not be based on merit, and that rich people don't deserve their money.

A more logical approach would have been to make all his workers shareholders, giving them so many shares a year or as bonuses. Then they'd be motivated rationally to make the company more profitable and thus increase their own wealth.

And mind you, he had already pulled in millions and could manage on less.He can always give himself raises later. How IS his merit measured?

"......most Americans feel there is wage inequality.."

This is stated as an absolute............feelings trump thinking..............I fear far too many of our fellow citizens intermix these two..............who knows from which their beliefs originate? And if one calls them on it, then one receives a barrage of their actual feelings........all negative!

Once again, the problem is irrational (or total absence of) philosophy.........feelings are not tools of cognition!!!!!

P.S. Did like Hoenig's comments...........I hope more than we are aware of understood.

He's an idiot.
There is no way based on their gross sales that he can make a profit once all overhead is added to his wage output. It simply means that for a moments worth of attention he is willing to sacrifice the future.

Did you notice that she is the only one not smiling?

:)

yes, I have those-so do you :)

Good idea.

maybe you should PM scott and ask for that bluebird :)

I agree.

I didn't read this before I posted. Asset

Hoenig should be in the Gulch.

+1,000,000 Exactly. We have a skill problem, not an income problem. People with necessary skills have opportunities. People with Ancient Sanskrit Lesbian Literature Degrees from UCAL Berkeley don't do so well.

This was a fitting comment from someone who did a Youtube ad on behalf of AS2. Inviting him to Galt's Gulch would be a good decision.

Sweet this CEO did more to rattle them than even Andrew Breitbart. Imagine paying your employees well, the nerve of him. God bless you sir.

She is their token progressive of the week.

I only wish that when Jess (I think that was her name) says "problem with inequality in this country" someone would have pointed out that we DO NOT have an inequality problem. The problem is unskilled workers feeling entitled to and demanding a wage that they haven't earned and aren't worth.

It makes me smile when I see or hear it.

Great find.

Little by little, the stories and philosophy are making their way into popular culture.