In some countries a handful of people earn significantly hefty remunerations and it is thought to be beneficial for the growth of the economy. However, a few people suggest that the government should limit / control it. I assert that salaries should be commensurate with an individual’s ability and need not be capped.
A good salary is always a predominant factor for selecting a particular job in a company. Some jobs require specific academic qualifications, cognitive skills or even long working hours due to which employees in such positions are highly paid. When they work diligently and round the clock for these high paid positions then the productivity of the company upsurges. Resultantly, businesses flourish to peak level leading to the overall development of the country. By contrast, if salaries are capped, it will discourage people from working harder. If there is a limit to what you can earn no matter how hard you work, few people will want to put in their best efforts. On the other hand, if salary is determined by the capability of the worker, it provides a strong motivation not only to the person earning the money, but also to other employees. Thus, everyone is encouraged to work hard.
Of course, higher earnings confined to a few hands increases inequality in the society. This also gives rise to feelings like jealousy and hatred. For example, people who do not earn much may feel hatred towards those who earn too much. In such situations, the crime rate is more likely to increase. However, capping the salaries is not the solution to this problem. Instead, the government should do whatever it can to improve the living standards of poor people. The government, for instance, should set minimum wages considering the cost of living in the country. This will ensure that everyone can earn enough to fulfil at least their basic requirements. And once the basic needs are met, people can work towards achieving more.
In conclusion, although huge salaries confined to a few hands can give rise to inequality, it motivates everyone to work harder and thus benefit the growth of the country.
In
some
countries
a handful of
people
earn
significantly
hefty remunerations and it is
thought
to be beneficial for the growth of the economy.
However
, a few
people
suggest that the
government
should limit / control it. I assert that
salaries
should be commensurate with an individual’s ability and need not
be capped
.
A
good
salary
is always a predominant factor for selecting a particular job in a
company
.
Some
jobs require specific academic qualifications, cognitive
skills
or even long working hours due to which employees in such positions are
highly
paid. When they
work
diligently
and round the clock for these high paid positions then the productivity of the
company
upsurges.
Resultantly
, businesses flourish to peak level leading to the
overall
development of the
country
. By contrast, if
salaries
are capped
, it will discourage
people
from working harder. If there is a limit to what you can
earn
no matter how
hard
you
work
, few
people
will want to put in their best efforts.
On the other hand
, if
salary
is determined
by the capability of the worker, it provides a strong motivation not
only
to the person earning the money,
but
also
to other employees.
Thus
, everyone
is encouraged
to
work
hard
.
Of course
, higher earnings confined to a few hands increases inequality in the society. This
also
gives rise to feelings like jealousy and hatred.
For example
,
people
who do not
earn
much may feel hatred towards those who
earn
too much. In such situations, the crime rate is more likely to increase.
However
, capping the
salaries
is not the solution to this problem.
Instead
, the
government
should do whatever it can to
improve
the living standards of poor
people
. The
government
,
for instance
, should set minimum wages considering the cost of living in the
country
. This will ensure that everyone can
earn
enough
to fulfil at least their basic requirements. And once the basic needs
are met
,
people
can
work
towards achieving more.
In conclusion
, although huge
salaries
confined to a few hands can give rise to inequality, it motivates everyone to
work
harder and
thus
benefit the growth of the
country
.