Cleaners are more valuable to society than bankers, advertising executives and accountants.
The British study from the New Economics Foundation found that for every pound or dollar that they earned, hospital cleaners contributed 10 times that amount in benefits to society. Childcare workers generated seven to 10 times their wages in social and economic benefits, but bankers on million dollar salaries and bonuses actually destroyed social value. On the other hand, bankers destroyed seven times the value for every pound or dollar they earned, and accountants destroyed 47 times the value for every pound or dollar created. Advertising executives didn't come out too well either.
The study measured conventional economic returns, including job creation, as well as attributable environmental degradation, and changes in well-being, either positive or negative, to individuals and communities in wider society.
One could question the methodology here. It's hard ascribing social value to any job. But the study will help justify the outrage over the massive bonuses bankers have been getting while the rest of the world economy is in trouble.
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