“Discussion of the minimum wage’s natural complement — the maximum wage — is taboo in most circles. But the case for a maximum wage or something very much like it […] is surprisingly strong.”
…
“What Lockwood, Nathanson, and Weyl find is that by increasing the financial incentive for top talent to pursue careers in finance and law rather than teaching and research, the Reagan tax reforms reduced overall economic output while increasing the pre-tax share of income earned by top earners. In other words, rather than giving the middle class a smaller slice of a bigger pie and making everyone better off, these reforms gave the rich a larger slice of a smaller pie and made only them better off.”
The case for a maximum wage

Almost every country has a minimum wage. It’s time to consider the opposite policy — a maximum wage.

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