If that wage is meant to be the same everywhere: economic chaos. A living wage for a worker in NYC, NY, USA is very different to the living wage in Da Nang, Viet Nam. You could work for eventual parity, but that comes with its own huge set of challenges. It’s interesting to think about.
A possible solution is to use percentages to keep it relative. Workers make 10% of what a CEO makes, a manager makes 15%, etc. Or a percentage of GDP or so other metric to make it comparable.
It’s still likely an impossible idea, but you could start nationally and then work out from there.
If that wage is meant to be the same everywhere: economic chaos. A living wage for a worker in NYC, NY, USA is very different to the living wage in Da Nang, Viet Nam. You could work for eventual parity, but that comes with its own huge set of challenges. It’s interesting to think about.
A possible solution is to use percentages to keep it relative. Workers make 10% of what a CEO makes, a manager makes 15%, etc. Or a percentage of GDP or so other metric to make it comparable.
It’s still likely an impossible idea, but you could start nationally and then work out from there.
Or a more globalized world would do like the covid pandemic and decentralize people more.