In light of the latest hubbub over the minimum wage, I recently wrote that “prices are not play things,” arguing that we do ourselves and our neighbors no favors by trying to subvert and distort market signals according to arbitrary whims. Instead, I argue, we should reach beyond such low-ball thinking, focusing on creation and contribution rather than sitting and settling.
Over at Think Christian, Jordan Ballor offers some related thoughts, including a helpful reminder that while prices matter, wages do not represent a “commentary on the value of the human person as such.” Tying our self-worth to marketplace value, he argues, “can be a misleading and potentially destructive identification.”
In Work: The Meaning of Your Life, Lester DeKoster pushes heavily in this same direction, going so far as to say that although work and wages move on “parallel tracks,” “neither track is the cause of the other or the goal of the other”:
What is a just wage? It is a paycheck that recognizes the personal relationships that underlie work and civilization. Involved are both the needs of the worker – at all levels – and success of the enterprise – in which all are involved…[T]hose whose work is concerned with the creation and administration of wage and price scales must be economic artists whose jobs bear heavy moral responsibility. What the traffic will bear or wage scales that only grim necessity will oblige the poor to accept are artistic guidelines that enjoy no endorsement from heaven. The search for just wage and fair price is never-ending, for the market is always changing and so are the forms required of work. Economic justice is by no means universal even in the best of civilizations.
How, then, do they relate? (more…)