In many countries, a small number of people earn extremely high salaries. Some people believe that this is good for the country, but others think that governments should not allow salaries above a certain level. Discuss both these views and give your own opinion.
In many nations, both develop and developing countries, a small percentage of the population earn an extremely large amount of money. While some people believe that a very high salary is a benefit for the community, others suggest a limit should be set by the government. In the following essay, I will consider both sides of this issue and finally give my opinion. Those in favour of keeping high salary argue that high earning generate employment. For instance, luxury hotel and luxury goods could not survive in a world with extremely high salary are forbidden and these hotels and goods create a great deal of employment in the society. Further, the prospect of high pay pushes people to work hard. Without this incentive they may became lazy and unmotivated. However, the opposing view is not without its merits. Much current research indicates that societies in which wealth is fairly equally divided have better health and education in addition to a greater sense of wellbeing. For example, it has been demostrated that many cardiovascular accidents in the Unity States of America in 2018 could have been prevented with a better distribution of the economic resources. It can also be argued that people with extraordinary amounts of remuneration may fail to use it wisely, witch is a great concern for the society. For these reasons they maintain that government should put a limit on salaries. To conclude, both sides seem to have some sound arguments. However, I am of the opinion that the government should not limit high salaries as doing so would lead to less employment and a lower work ethic.