Pay the People!
Why Fair Pay Is Good for Business and Great for America
by John Driscoll, Morris Pearl, The Patriotic Millionaires
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Pub Date Dec 03 2024 | Archive Date Dec 02 2024
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Description
From an unlikely source, a compelling argument that when workers are paid fairly, everyone, including businesses, benefits.
Seventy percent of the U.S. economy is based on consumer demand, but almost 40 percent of Americans make less than the cost of living. Nearly all the economic gains made in the last several decades have gone to the top 1 percent and Wall Street, while working families whose spending habits drive the economy have fallen further behind, and our economy has suffered as a result.
In Pay the People!, two members of the top 1 percent—John Driscoll, former healthcare CEO and current Walgreens executive, and Morris Pearl, a former BlackRock executive and board chair of the Patriotic Millionaires—pin the blame squarely on short-term corporate greed and policies of both government and employers that impose austerity on some of the hardest-working employees and families. They argue that business leaders’ refusal to pay wages that workers can live on and Congress’s failure to raise the federal minimum wage trap millions of workers in cycles of poverty. At the same time, Driscoll and Pearl demonstrate, these policies undermine the economy for all of us and threaten the foundation of democratic capitalism.
This highly illustrated, data-informed call for a major readjustment in our pay scale for workers at all levels, from two individuals who profit mightily from the current imbalanced system, presents a rebuke of modern American business practices and congressional paralysis. But it also offers a road map forward, with chapters describing what a reconfigured economy would look like. In an issue that is too often covered as a zero-sum game where there’s a winner and a loser, Driscoll and Pearl offer resounding evidence to the contrary.
ABOUT THE AUTHORS
Morris Pearl, a former managing director of BlackRock, is board-chair of the Patriotic Millionaires, a group of high-net-worth Americans committed to making America better off by building a more prosperous, stable, and inclusive nation, and ensuring that millionaires, billionaires, and corporations pay their fair share of taxes and that every company pays a living wage to all of their workers. He is the co-author, with Erica Payne, of Tax the Rich! and co-author, with John Driscoll, of Pay the People! (both from The New Press) and lives in New York City.
John Driscoll chairs the Waystar Corporation and is a senior advisor at Walgreens Boots Alliance. Previously, he was CEO at CareCentrix, president of Castlight, group president at Medco, and SVP at Oxford Health Plans. John also served as a captain in the U.S. Army Reserve and is a longtime board member of the Alliance for Hunger and The Patriotic Millionaires. The co-author, with Morris Pearl, of Pay the People! (The New Press), he lives in Stamford, Connecticut.
The Patriotic Millionaires is a group of high-net-worth Americans committed to making America better off by building a more prosperous, stable, and inclusive nation, and ensuring that millionaires, billionaires, and corporations pay their fair share of taxes and that every company pays a living wage to all of their workers. It is the co-author (with Morris Pearl and Erica Payne) of Tax the Rich! and (with John Driscoll and Morris Pearl) of Pay the People! (both from The New Press).
Advance Praise
“Over the past thirty years of teaching and managing, I have been guided by a simple set of rules learned from David Glass, former CEO of Walmart: ‘Better people, better paid, who stay with you longer win every time.’ With Pay the People! Driscoll and Pearl convincingly demonstrate that this truth continues to hold and is even more important today. A must-read and reminder!”
—Leonard A. Schlesinger, Baker Foundation Professor, Harvard Business School
“Pay the People! is not just a call for policy reform, it is a tribute to what we can achieve when we prioritize the needs of working people—just as John Driscoll has done for nearly three decades. I am proud to call John a partner in the fight to ensure every working American, no matter their zip code, has the financial security to comfortably raise a family and make their future.”
—Governor Phil Murphy of New Jersey
“As a leader who believes in the power of people, I understand how fair wages ensure dedicated employees and help build strong companies. Reforming the wage structure is not just about economics, it’s about ensuring the dignity and self-respect of every employee. Driscoll and Pearl make a compelling case for why it’s time for America to invest in our greatest asset—our people.”
—Indra Nooyi, former CEO of PepsiCo
“To have a growing economy, you must have an inclusive economy. We have to be a society that incentivizes work and provides pathways to work, wages, and wealth. That’s what this book is about and that’s what John’s life’s mission has been centered on.”
—Governor Wes Moore of Maryland
“Pay the People! is a timely and compelling exploration of the deep income inequalities that undermine the American economy. With a clear-eyed analysis and a wealth of data, Driscoll and Pearl provide a searing critique of the corporate greed and flawed policies that keep millions of workers in poverty. They also offer a visionary road map for creating an economy that works for everyone.”
—Saru Jayaraman, president of One Fair Wage and author of One Fair Wage
“In a world where economic disparities continue to grow, paying a living wage is a vital step in building strong companies and healthy communities. This book provides a compelling exploration of how fair wages lift up workers, transform companies, and sustain democracy. It reminds us of the urgent need for government and industry to invest in wages that workers can live on. As Ford Foundation CEO, I fully endorse this powerful and timely work.”
—Darren Walker, president of the Ford Foundation
“Pay the People! is a simple, yet compelling argument for a true living wage. Driscoll, a successful business leader who has long advocated for fair wages for hardworking Americans, dispels the myth that doing what’s right isn’t also the smartest move. Workers, like soldiers, do their best when their pay reflects how critical they are.”
—Stanley A. McChrystal, U.S. Army General (Ret.) and New York Times bestselling author
“This book makes a strong case for raising the minimum wage and stands for a more fundamental idea that doing well and doing good go together. I hope it influences federal and state policy for years to come.”
—Larry H. Summers, former U.S. Secretary of the Treasury
Available Editions
EDITION | Paperback |
ISBN | 9781620978825 |
PRICE | $18.99 (USD) |
PAGES | 224 |