Venezula --- learning the hard way --- just like? ----------------------
CEO Hikes Minimum Wage To $70K, Capitalist Tragicomedy Ensues
http://www.zerohedge.com/news/2015-08-0 ... edy-ensues
"Meet 31-year-old Dan Price.
Dan is the CEO of Seattle-based credit card payments processing firm Gravity Payments, and three months ago, he did a funny thing.
After talking with a friend who confessed to having difficulties making student loan payments and rent each month on an annual salary of $40,000, Dan decided to set a $70,000 per year pay floor at Gravity."
" All he wanted to do was improve the lives of the 120 or so people who worked for him and after reviewing some literature on the subject, he decided that $70,000 was the level at which workers start to experience "an enormous difference in [their] emotional well-being."
"First, some employees felt it wasn’t fair to indiscriminately give everyone a raise. That is, some felt Gravity should at least pay lip service to the notion that there's a connection between higher pay and performance and because the new pay plan didn't seem to acknowledge that link, the company lost some workers."
"Two of Mr. Price’s most valued employees quit, spurred in part by their view that it was unfair to double the pay of some new hires while the longest-serving staff members got small or no raises."
----------------------------------------------
From "Atlas Shrugged" by Ayn Rand
"Well, we got what we asked for. By the time we saw what it was that we’d asked for, it was too late. We were trapped, with no place to go. The best men among us left the factory in the first week of the plan. We lost our best engineers, superintendents, foremen and highest-skilled workers. A man of self-respect doesn’t turn into a milch cow for anybody. Some able fellows tried to stick it out, but they couldn’t take it for long. We kept losing our men, they kept escaping from the factory like from a pesthole – till we had nothing left except the men of need, but none of the men of ability."
--------------------------------------------
The hard facts of reality