"The Australian Chamber of Commerce and Industry (ACCI) said it was unrealistic to expect companies to attract the best executives without paying the best rates."
The debate about 'inflation' provides a wonderful insight into how the human mind can jiggle with the English language to bend reality until it supports vested interests.
So let's start our journey into unmasking the self-delusion that poses as sane thinking in order for self-indulgence and greed to appear as sane and rational thought with a definition of 'inflation'.
Inflation is when something costs you more today than it did last last year *except* if a vested interest is involved when self-delusion steps in (plus PR spin) to prevent the intrusion of sanity into a discussion on 'inflation'.
Let's continue our journey into absurdity with the position of the Chamber of Commerce (and the Liberal Party) on high executive salaries:
Escalating executive incomes are good as they are needed to attract the best applicants.
Is improving worker incomes good?
Good Grief No! Higher wages cause inflation and must be stoutly resisted in the national interest!
What about higher company incomes?
These are good as they contribute to the national economy that we all depend on.
What about higher dividends and capital gains?
These are good as they contribute to the national prosperity that we all depend on.
What about higher government incomes from taxes on companies and people?
These are good as they are spent on services and infrastcture that keep the economy prosperous.
What about higher incomes for banks and money-lenders via higher interest rates and other account charges?
These are absolutely essential (in the national interest) to fight the grotesque evil of inflation.
But higher worker incomes (via higher wages) are not in the national interest as they cause inflation?
Correct.
Thank you for unravelling the mysteries of 'inflation'.
Let me see if I've got it right:
Income rises for all sectors of the economy (except workers) do not cause inflation.
Income rises for all sectors of the economy (except workers) are good for the economy.
Income rises for workers cause inflation and must be stoutly resisted in the national interest!
Yeah! Pull my other leg!
What a self-serving load of old horse feathers that poses as rational thought!
Give the chaps who crafted a theory of inflation (that protects their source of profits and income from scrutiny) news that a boatload of convicts in iron chains was for sale at Sydney Cove and the rush to score cheap labour would be tempered only by a quick stop at a local saddlers to buy a stockwhip to punish slackers, malingerers and trade union busybodies who interfere with free enterprise!
