Are there studies about this? What attracts more talent:
a) Pay increase for everyone in an industry. b) Larger pay increases, but limited to the best performers.
Are there studies about this? What attracts more talent:
a) Pay increase for everyone in an industry. b) Larger pay increases, but limited to the best performers.
Trevor Noah makes a really good point in his autobiography. He recounts the story of someone giving him a CD writer, which enabled him to go into the bootlegging business in post apartheid South Africa. He explains that what poor people need is capital, like that CD writer. You can teach a man to fish, he explains, but if you don’t give him a fishing rod you haven’t done him any good.
In the Trevor Noah example, it's both having the CD writer, and also knowing how to use it. The former doesn't guarantee the latter.
https://www.tucsonweekly.com/TheRange/archives/2015/07/14/wh...
On the flip side, though, straight up wealth distribution to the poor has a huge waste factor, though. I work with poor people at my church, and a lot of times they have no idea where their money is even going. They see a predatory letter with scary red letters and they send money to it, even though it's not even a bill! The bills they are getting are for services they aren't even using (expensive cable plan, etc.). Yes, the poor need more money, but they also desperately need mentors and education.
Industry culture that obstructs identifying and utilizing talent is probably a more concise way to describe the problem as I see it.