Harringay, Haringey - So Good they Spelt it Twice!
Hospital cleaners are worth more to society than elite City bankers
Hospital cleaners are worth more to society than elite City bankers, according to new analysis from nef. Their new report, A Bit Rich?, uses new quantification techniques to calculate the value created for society by a range of different professions.
For each, the authors measured the conventional economic returns, such as the number of jobs created, as well as key environmental impacts, including climate change effects, and social impacts, for example contribution to individual or community well-being. Weighing up the positive and negative economic, environmental and social impacts produced an overall result for each occupation.
The results revealed that the more poorly paid jobs - hospital cleaners, recycling workers and childcare professionals - were more valuable to society than the highly paid jobs, high-earning City bankers, advertising executives and accountants helping the most wealthy individuals and companies avoid tax.
The research highlights the fact that, at the moment, salaries are a very poor indicator of the contribution a job makes to society and that some of the most valuable roles are the least well-paid. nef believes that we need a pay structure which recognises all aspects of value and rewards those jobs that create most benefit to society, rather than rewarding work which generates profit at the expense of society and the environment.
For each, the authors measured the conventional economic returns, such as the number of jobs created, as well as key environmental impacts, including climate change effects, and social impacts, for example contribution to individual or community well-being. Weighing up the positive and negative economic, environmental and social impacts produced an overall result for each occupation.
The results revealed that the more poorly paid jobs - hospital cleaners, recycling workers and childcare professionals - were more valuable to society than the highly paid jobs, high-earning City bankers, advertising executives and accountants helping the most wealthy individuals and companies avoid tax.
The research highlights the fact that, at the moment, salaries are a very poor indicator of the contribution a job makes to society and that some of the most valuable roles are the least well-paid. nef believes that we need a pay structure which recognises all aspects of value and rewards those jobs that create most benefit to society, rather than rewarding work which generates profit at the expense of society and the environment.
Replies to This Discussion
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Permalink Reply by maggie on
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...carefully...?
Perhaps the people who work on the land, planted and picked the flowers, packed them etc, should earn a decent wage instead of big profits and commissions.
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I am smug.
I am very rich.
I run a bank.
I recklessly lend too much to someone who i know cannot afford to repay.
The person admits they cannot repay the debt and the money is lost.
I also at the same time pay myself unreasonably huge bonuses all the time as a reward.
My bank cannot afford now to pay wages to staff.
My bank is bankrupt.
Wait a minute.
Taxpayers pay off the bad debts.
I take the taxpayers money, intended for running my bank.
I reward myself with even more huge bonuses.
I have learned that i will always win no matter what i do and am smug.
And very rich.
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Permalink Reply by marc garrett on
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In view of the situation regarding the massive education cuts about to ruin higher education, because of the crisis - I think all the money should be put back into the system. Taken from the bankers until our economy is better...
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Permalink Reply by John D on
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I thought an excellent example of Godwin's Law which states that "As an online discussion grows longer, the probability of a comparison involving Nazis or Hitler approaches 1" :-)
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Permalink Reply by Birdy_Too on
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This was on QI the other day, I didn't mentioned that bloke though or a comparison, thought there was a tongue in cheek relevance : )
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John D. Do you mean like this ?
IBM made the holocaust possible it would have been impossible without them.
HUGO BOSS designed the SS uniforms.
FANTA drink was designed for the German nazis only. etc etc etc
(enjoy your trendy boss clothes when sipping fanta in front of your computer).
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Permalink Reply by Chris brock on
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Yeah, but in fairness the Germans did have the best uniforms.
Well, maybe the Italians...
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chrisb. look where these companies are now. Perfectly respectable.
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