Comment Re:Why does Ireland have a "National Investment Fu (Score 1) 194
It's not so much about angelic and demonic, it's about incentives. Imagine you're a company, and you pay your employees like crap. Should you pay them more? That would be nice, they would be happier, but it would cost a lot of money off the bottom line. Your competitors also pay like crap, so they're not particularly resentful of you. Also your competitors are using the money saved from crap pay to spend more on ads or something. It's going to be hard to keep up if you just try to pay them more. So, you continue the crappiness as it is.
What if your competitor is in the same boat? They also aren't too thrilled about how crappy they pay their employees, but are also worried about you, and how you will undercut them if they pay more. You find out most of the industry is like you. But nobody is going to make the first move in improving working conditions, unless you had a guarantee that everyone will do it. That sort of higher level agreement usually comes from government, who has the power to enforce such things.
So it's not about angels and demons, but about solving a nonlocal optimization problem. When the government gets involved you just have to make sure the people are well informed to understand the bottlenecks of the system. They clearly are not, so maybe we should try to do a better job of that.