What would your 17 or 18 year old self have said?
Economics and management: Do bankers deserve their high pay or should government limit it?"A simple answer might be that since banks are generally private firms and workers are free to work where they wish, then the pay they receive is just the outcome of a competitive labour market.
"In this story, bankers earn a lot because they are very skilled and have rare talents. It is hard to see a reason for government intervention in this case, though on equity grounds one may want to have a progressive income tax system that redistributes some of this income.
"A good candidate would wonder why seemingly equivalently talented people can get paid so much more in banking than in other occupations. Do we really believe bankers are so much better than other workers in terms of skill?
"An alternative story is that the banking industry is not competitive and generates profits above what a competitive market would produce. In this case, there is a role for government intervention to make the market more competitive. The key point is for candidates to think about the economics of pay rather than just whether they think it is fair or not."
Limit it cause 1% < 99%
No, just let them have a mandatory account at the bank they run. That way when their bank goes bust they will too
>>7226069
>"An alternative story is that the banking industry is not competitive and generates profits above what a competitive market would produce. In this case, there is a role for government intervention to make the market more competitive
The reason commercial banking is not really a competitive industry is because requires a government franchise to operate.
Deregulation would increase competition but also increase failures, and as we know from every economic policy adopted since 1930, the United States is terrified of bank failures.
I was a straight A student then in the last year of school fell for my Spanish teacher and did nothing but pine for her and navigate a secret relationship with her which ultimately crumbled, now my life is a crumbled mess. No regrets. Too alpha for Oxford.
No they don't deserve their high pay because I can't issue my buttcoins to idiots and extract interest like they can. Make banking a public utility and pay bankers a fix wage or allow free banking.
>>7226069
BANKERS BONUSES ARE THE PATRIARCHY STANDING AGAINST EQUALITY OF WOMEN
that's not a very good interview question tbh
>>7226069
>What would your 17 or 18 year old self have said?
I would probably have outlawed usury, thereby making banks practically defunct.
>>7226176
The funny thing is, third-wave feminism has effectively quashed any class-conflict discourse by making the rabble fight among themselves.
Define 'bankers'.
>>7226227
>>7226227
>>7226231
