Now for the thought of the day . . .
We have heard much about how public sector employees should "share" the pain in the current economy. The argument is that because private sector employees are hurting financially then so should public sector employees.
One response is to say this: if public sector employees should "share" the pain with private sector employees when times are bad, then we should agree the principle that public sector employees should "share" the gain with private sector employees when times are good. The argument here is simple. If it isn't fair that only one group feels the pain during times of economic hardship, then it must not be fair that only one group receives the benefits during times of economic growth. Right?
An even better response is to say this: why should public sector employees be treated like private sector employees? For one thing, those who chose to work in the private sector accept a risk. The risk is that one can earn greater wealth in the private sector on average all things considered (with the downside of greater job insecurity). Those who chose to work in the public sector chose a more risk averse career, but with the downside that greater job security does not come with higher occupational income. So each side makes a choice. Those who espouse market principles on why public sector employees should earn less fail to recognize that these same principles entail that the market will produce winners and losers in the private sector. If job and income security is so precious to them, then they should recognize that perhaps they made the wrong choice in entering the private and not the public sector.