Jack Albrecht
1 min readJan 17, 2022

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The isue is the disparity across the corporation. I started (and still run) a consulting company in social democratic Austria. As the founder, I'm able to make as much money as I can charge - and here is the catch (difference to the US) - only if all my employees are compensated fairly.

Every employee is covered by a collectively bargained contract that has ranges of monthly salaries for jobs. Full medical, social security, unemployment, 5 weeks of vacation, serverence, etc

Major financial success in the US in the last 30+ years (since Reagan gutted unions) is based on exploitation of some part of the work force and/or customer base. Movies stars, recording stars, tech giants, financial services. The US system of sky high pay for a few lucky stars rests on the shoulders of people working poverty wages and/or exploitation of the customer base. Probably there are a couple exceptions that prove the rule.

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Jack Albrecht
Jack Albrecht

Written by Jack Albrecht

US expatriate living in the EU; seeing the world from both sides of the Atlantic.

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