this post was submitted on 09 Feb 2025
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That's very simple. Public companies have investors the directors respond to. If the company won't brag about profits, it will lose investments, reducing its competitiveness and starting a death spiral. If it will pay bigger salaries, it will lose money and won't be able to brag about profits.
Our current economy is double crazy in that companies don't just have to make stable profits to stay afloat, but to ever increase those profits at the expense of everything - including workers.
The entire system is insane.
Paying higher salaries COULD lead to better profits but that's risk and business don't take risks like that.
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