In capitalism, most of us work for a wage, and that wage determines what kind of life we will have. If you spend your life making $15/hour, you will barely be able to afford rent in Toronto. On the other hand, if your work lets you earn a six-figure salary, you can live pretty comfortably. But this decision is largely made without our input - it is determined by the market, which currently says that nurses should be paid much less than lawyers, and lawyers should be paid much less than hedge fund managers, and so on.

Let's set aside the capitalist world we live in, for a moment, and think bigger. What if you were in the position of deciding how much each type of job should pay? What if you could set the value of different types of jobs? How would you decide? What would your system for evaluating labour look like?

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If I were in the position of deciding how much each type of job should pay and if I were to set the value of different types of jobs I would consider several factors and design a system for evaluating ... View the full answer