9.7 Final remarks
The model described is applicable for explaining essential features of a labor market and showing which objective criteria should be used to differentiate wages in different professional groups in a meaningful way.
An interesting and not to be expected conclusion is that the principle of relative wage reductions (and increases) depending on supply and demand in the various professions in the labor market seems to be a functioning optimization strategy, while it is to be rejected as a price building principle in the goods market, because of the resulting instabilities (See Volume 1 ). However, some additional conditions must be taken into account, which in the capitalist market economy are not automatically given, if at all. In this way it must be prevented that necessary relative wage changes are misused to lower the general wage level.
A sheer performance wage is also not yet socially compatible. By introducing a minimum wage, however, it can be shaped socially without giving up the performance principle.
Overall, my investigations are far from conclusively addressing the problem. In the sub-items of section 9, some open questions have already been addressed.
Nevertheless, I have hereby ended my investigations for the time being, because a level has been reached with which I can go public in a relatively closed presentation in the hope of winning partners for further work on the problem. Further engagement with this matter would exceed my limited processing capacity.
Unfortunately, I cannot yet come up with an extensive literature analysis on this topic, because I have not yet found a similar starting point. I am grateful for references to other interesting literature sources on this problem, especially for those that also provide references to ways of quantifying meaningful income differentiations.Return Return to the home page