posted on Feb, 12 2014 @ 09:00 PM
The worth or value of your labor should be determined by two things:
The first is the transaction between you and the employer or purchaser of your services or labor. Whatever is mutually agreed upon between the two of
your is what is acceptable. NO MATTER WHAT. It doesn't matter if someone else comes along and tells you that you undervalued yourself or overvalued
yourself or anything else. If one party offers and the other agrees, the contract is acceptable.
The second is what the market will bear. That basically means that whatever your skill or service is ... it is only worth as much as the next guy who
can do it is willing to work for. So, yeah, you can go out and demand that someone pay you $100/hour to flip burgers, but the reality is that just
about anyone with a competent pair of hands can flip burgers, and so long as the next person comes along and says "I'll do it for $30/hour" or less
... you will never be able to flip burgers for that much. The rarer your skill is or the better you are at it than the others who do it, the more
value you have.
This is one of the problems with unions. By banding together, they can distort the labor market by forcing all the other workers to not accept wages
less than a certain amount. While this can seem to be beneficial to the laborers up to a certain point, if they aren't careful, they actually wind up
damaging the employers by distorting the cost of labor too far.