Salaries are a price, just as the price of chocolate is a price. They’re just the price at which someone’s work sells. This is true no matter what your job is or how much you’re being paid--if your wage is the price at which your labor sells, the salary a CEO gets paid is also the price at which his labor sells. So we shouldn't give a different explanation for the wages/salaries of rich people from the explanation we give for the wages/salaries of poor people. All salaries are determined by supply and demand for the labor in question.
http://www.owl232.net/economics.pdf
See:
Fast Food Workers: You Don’t Deserve $15 an Hour to Flip Burgers, and That’s OK
http://themattwalshblog.com/2015/04/16/fast-food-workers-you-dont-deserve-15-an-hour-to-flip-burgers-and-thats-ok/
http://www.owl232.net/economics.pdf
See:
Fast Food Workers: You Don’t Deserve $15 an Hour to Flip Burgers, and That’s OK
http://themattwalshblog.com/2015/04/16/fast-food-workers-you-dont-deserve-15-an-hour-to-flip-burgers-and-thats-ok/
