Tuesday, November 30, 2010

Salary

I assume that a salary is the price paid for a commodity, and it ought to conform with the law of supply and demand. If the salary is fixed without any regard for that law, as, for instance, when I see two engineers leaving college together, both equally well trained and efficient, and one getting forty thousand while the other is satisfied with two; or when I see lawyers and hussars, having no special qualifications, appointed directors of banking companies with immense salaries, I conclude that the salary is not fixed in accordance to the law of supply and demand, but simply through personal interest. And this is an abuse of great gravity in itself, and one that reacts injuriously on the government service.

--- Told over a 100 years ago by Leo Tolstoy...

Amazing... it is still applicable in Indian Society...