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Two Definitions — Peter Radford

Summary:
In recent weeks we have become accustomed to calling someone an ‘essential worker’. These are our most important people. They are, if the dictionary doesn’t lie, indispensable. They are extremely important. They are key, crucial, vital, and needed. They sound pretty darned special to me. They must be doing things that, were they not doing them, would bring the economy to a screeching halt. My goodness, they must be paid a lot. Surely anyone who is a vital cog in the machinery is paid commensurately with that importance. Not really. Not at all for most of them — the exception here in the U.S. being doctors. No, most of our ‘essential workers’ are amongst our least well paid.... The Radford Free PressTwo Definitions Peter Radford

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In recent weeks we have become accustomed to calling someone an ‘essential worker’. These are our most important people. They are, if the dictionary doesn’t lie, indispensable. They are extremely important. They are key, crucial, vital, and needed. They sound pretty darned special to me. They must be doing things that, were they not doing them, would bring the economy to a screeching halt.
My goodness, they must be paid a lot. Surely anyone who is a vital cog in the machinery is paid commensurately with that importance.
Not really. Not at all for most of them — the exception here in the U.S. being doctors. No, most of our ‘essential workers’ are amongst our least well paid....
The Radford Free Press
Two Definitions
Peter Radford
Mike Norman
Mike Norman is an economist and veteran trader whose career has spanned over 30 years on Wall Street. He is a former member and trader on the CME, NYMEX, COMEX and NYFE and he managed money for one of the largest hedge funds and ran a prop trading desk for Credit Suisse.

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