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The real value of work

a little night musing's picture
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From the Global Sociology blog: A British study on the value of work in terms of its contribution to society, not in terms of how much you can get someone to pay you to do it.

The occupations examined are

Low pay
Hospital cleaner
Recycling plant worker
Childcare worker

High pay
City banker
Advertising executive
Tax accountant

Based on comparing compensation and social value, the results are as follows (the full methodology is available in the study, of course):

Bankers: with salaries between £500,000 and £10 million, bankers destroy £7 of social value for every £1 in value they generate. The negative social effects should by now be obvious.

Advertising executives: paid between £50,000 and £12 million, they destroy £11 of social value for every £1 in value they generate (for example, through their promotion of environmental destruction and labor exploitation in the promotion of the consumption of cheap goods.

Tax accountants: paid between £75,000 and £200,000, they destroy £47 of social value for every £1 in value they generate (for instance, through their contribution to tax evasion).

Childcare workers: for every £1 they are paid, they generate £7 to £9.5 worth of social value.

Hospital cleaners: for every £1 they are paid, they generate £10 in social value.

Recycling plant workers: for every £1 they are paid, they generate £12 in social value.

UPDATE Billy Mitchell analyzes this study here.

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