Cleaners worth more to society than bankers
Posted in One to Ponder on December 18th, 2009 by Admin
A report just unveiled by think-tank the New Economics Foundation (nef) has found a robust way to calculate how much someone should be paid in relation to the value they create to society. It uses a series of measures including economic return, environmental impact, and knock-on effects for societal wellbeing. The report questions whether pay reflects the true value of different jobs and shatters some of the myths used to justify high pay. Tax accountants are said to be the most destructive, destroying £47 of social value for every £1 they create. Waste-recycling workers on the other hand, generate £12 for every £1 spent on their wages. In the case of advertising executives, the report calculates the cost to society of over-consumption. The authors quote the economist JK Galbraith who argued that advertising created socially and environmentally wasteful “wants” where needs have already been met.


Professor Joel Waldfogel, author of 


The residents of Westbury-sub-Medip in Somerset have set up what is Britain’s smallest library. After loosing their much needed mobile-library service, the village of 800 people clubbed together to transform the iconic red telephone box that lay dormant in their village into a book exchange. The idea of village resident Janet Fisher, the local parish bought the telephone box from BT for £1, whilst villagers then contributed wooden shelves and their own books and local businesses supplied signage. “It has really taken off,” Parish councilor Bob Dolby told 
Durrell Bishop, owner of 