A several number of individuals have an exorbitant pay. Different individuals have different skills-set which determines their contribution in a country's development, thus people should be paid on the basis of their skills. However some people believe that it widens income disparity, therefore it should be regulated and capped. In my opinion, it is not appropriate to cap every person's income, as everyone's contribution is different in a country's development.
Every country's development is dependent upon it's human resource. This human resource can either be skilled or unskilled. If skilled labourers are paid same as the unskilled labour it will be injustice to their skills. Also, it will not motivate less skilled people to work harder or to acquire advanced skills. For example: an IIM graduate undergoes way more rigorous training than a local university graduate. Therefore the skills of IIM graduate are comparatively more advanced than the other. Thus, they deserve to be paid accordingly.
On the other hand, if the incomes are not capped there are chances of widening gap between various sections of society. It means, that one section of society will be enjoying all the lavishness and leisure of life, while the other section will be struggling to make the ends meet. A very appropriate example to highlight this inequality in income distribution is provided by United Nations, which states that only 1% population of India owns 69% of nations wealth. Such inequality is extremely obnoxious and potential to give rise to anti-social incidents in the society such as robbery and smuggling.
Lastly, I would reiterate that a country's development primarily relies on its human resources Therefore, people should be motivated to acquire essential skills, rather than de-motivating the deserving people by baring their income.
A
several number
of individuals have an exorbitant pay.
Different
individuals have
different
skills
-set which determines their contribution in a
country's
development,
thus
people
should
be paid
on the basis of their
skills
.
However
some
people
believe that it widens
income
disparity,
therefore
it should
be regulated
and capped. In my opinion, it is not appropriate to cap every person's
income
, as everyone's contribution is
different
in a
country's
development.
Every
country's
development is dependent upon
it's human resource
. This human resource can either
be skilled
or unskilled.
If
skilled
labourers
are paid
same as the unskilled
labour
it will be injustice to their
skills
.
Also
, it will not motivate less skilled
people
to work harder or to acquire advanced
skills
.
For example
: an IIM graduate undergoes way more rigorous training than a local university graduate.
Therefore
the
skills
of IIM graduate are
comparatively
more advanced than the other.
Thus
, they deserve to
be paid
accordingly
.
On the other hand
, if the
incomes
are not capped there are chances of widening gap between various sections of society. It means, that one section of society will be enjoying all the lavishness and leisure of life, while the other section will be struggling to
make
the ends
meet
. A
very
appropriate example to highlight this inequality in
income
distribution
is provided
by United Nations, which states that
only
1% population of India
owns
69% of nations wealth. Such inequality is
extremely
obnoxious and potential to give rise to anti-social incidents in the society such as robbery and smuggling.
Lastly
, I would reiterate that a
country's
development
primarily
relies on its human resources
Therefore
,
people
should
be motivated
to acquire essential
skills
,
rather
than
de-motivating
the deserving
people
by baring their
income
.