Comparing public- and private-sector wages
I have seen arguments before such as the one Knight Allen made in his Tuesday letter comparing public- and private-sector pay. It has always puzzled me as to who set up private-sector worker wages as the standard for a reasonable wage?
If the private sector is supposed to be the gold standard for workers, why do local and state government workers make more money? Could it be that private-sector owners and shareholders demand so much in profit that they leave nothing in the pot to pay their workers a reasonable wage and benefits such as health insurance and retirement?
Where is the fairness and equity in that?