DT1- Location: Dover
- Registered: 15 Apr 2008
- Posts: 1,116
5 February 2010
15:4539699An interesting article I read this morning, although not completely happy with the source, it at least plays the money lovers at their own statistical games! The report suggests the actual contribution different workers provide to society and highlights the distorted and obviously mindless perspective presented to us by the mass media.
As I say, although from a far from bias source, it suggests that key, low paid workers contribute far more to society than the capital driven individuals that influence decision making for the masses. Based on conventional economic returns, environmental impacts, and knock-on effects for jobs and wellbeing in society, the report suggests:
"....tax accountants were the most destructive, laying waste to £47 of value for every £1 they created. Elite City bankers (earning £1m plus bonuses) destroy £7 of value for every £1 they create and advertising executives wreck £11 of value for every £1 they are paid.
On the other hand, the report judged that waste-recycling workers generated £12 for every £1 spent on their wages. Childcare workers create between £7 and £9.50 of value for every £1 of pay and hospital cleaners create more than £10 in value for every £1 they receive in pay.
The assessment by the Nef follows severe criticism from some institutional investors of the "value destruction" by many banks. The losses posted by some banks, including Royal Bank of Scotland and Halifax have wiped out more than 20 years of profits."
As I say I would question some of the measures and don't like this financial method of measuring things that beyond monetary value. However it does confirm how much we need overpaid bankers, a job that is quantifiable!
Guest 655- Registered: 13 Mar 2008
- Posts: 10,247
5 February 2010
16:3139703DT1 - all this is very subjective and, frankly, a pointless exercise.
Personally I consider the overpaid prima-donnas of football the most useless and inflated individuals on the planet but others just love them and people pay a lot of money to see them.
I consider tax accountants as doing a very useful job ensuring that people do not pay more tax than they have to and are able to retain as much cash for themselves and their families as possible. We, as idividuals, know how to sepnd our own money better than any government. I like to think that I play my small bit in this too as an IFA.
At the end of the day it is our own personal values, outlook and experiences that wil dictate these matters.
howard mcsweeney1- Location: Dover
- Registered: 12 Mar 2008
- Posts: 62,352
5 February 2010
17:1739707i think that there is some valid points raised in dt's post.
if tyrone(the town centre cleaner) suddenly downed tools, we would notice very quickly.
5 February 2010
17:4439710With all due repsect to Tyrone, who does a super job, above and beyond, he could push his broom until the end of time and still not generate the income for this country (us) a big bonussed, overpaid (assumption a Tory but in reality not necessarily) City type would in a few hours.
Does that make one better than the other? No, of course not. Both have value even if it is different and only as fool would lok at people this way. The stilted typical leftist propaganda reported by DT1 is probably just a good indicator at how desperate the left is to hang on to some semblance of power now they see certain electoral annihilation on the horizon.
Or, put another way, what a load of old garbage.
howard mcsweeney1- Location: Dover
- Registered: 12 Mar 2008
- Posts: 62,352
5 February 2010
20:0139721sid
you are referring to money, i am referring to value.
we all know what happens when there is a bin workers strike for example.
do you not think calling a post garbage is a bit over the top?
DT1- Location: Dover
- Registered: 15 Apr 2008
- Posts: 1,116
5 February 2010
20:5239727Sorry Barry, I'm not sure of your response. You see the report as pointless due to it's subjective nature and then use the terms; Personally; I consider; I like to think and personal values. These are all subjective, but I wouldn't devalue them for being so.
As I say, I see the the report as being quite biased, but also an interesting view. It is also ironic that you cite tax accountants as being 'useful' to ensure that people pay as little tax as possible, i.e as little to society as possible, the very point that this report is highlighting.
The overpaid 'city type' is probably paying the tax accountant to ensure he is generating as little money for the country (us) and as much money for (themself) as possible. Tyrone will think he needs a new accountant if he reads this!
Sid, I'm not sure where I said one was better than the other, I'm just raising what this (ALBEIT BIASED) report suggests people contribute. If you sumise from this that one is 'better' than the other just because of the financial values...well then I rest my case.
Also why would the Left be concerned with Labour being annihilated? I hope you don't think I support Labour.
Howard, good point about money/value. I can also take the garbage comment...I'm a big boy.
6 February 2010
11:2739758DT1/Howard, I was not suggesting for one moment that your posting was garbage, just the content and thinking behind the report you were drawing our attention to. Apologies if either of you were offended.
I too mentioned value, not fiscal value, you both assumed I meant the latter.
Perhaps this shows another weakness of a report which uses the word "value" in two different contexts?
DT1- Location: Dover
- Registered: 15 Apr 2008
- Posts: 1,116
6 February 2010
13:4839772I agree Sid.
Value is an interesting idea especially politically. The 'Value' of education, NHS etc. All more complicated than just pounds shillings and pence.
