In a communist society, people would not sell their labor. They would have control over their workplace because it would be democratically controlled. The products of their labor would directly benefit them and their community as well.
http://fortune.com/2017/07/20/ceo-pay-ratio-2016/
CEOs are not working 271 times harder but they are getting 271 times more money.
From Soapboxie:
Far left socialism is no less dangerous. Though I think the socialist ideal of a worldwide and local cooperation is good, the socialist model is not the way to do it.
The problem with the really far left model, involving equal work and equal distribution, has already been discussed in depth by many, so I will only cover it briefly. I suppose that it once seemed like a better alternative to capitalism-gone-wild (it prevents the wealth gap and the consequent abuse of the $ owned government), but the society based on this model quickly collapses. Look at Communist China, Cuba, or to a certain extent, today's Europe. Europe is still great, but the cracks are starting to show.
The two major reasons are 1.) Socialism discourages work and effort by shifting consequences (positive and negative) onto others. 2.) Socialism restricts freedom of the individual. I'll begin by addressing the first.
By having a "security net" so secure that it's easier to not work than to work, nobody (well, few) will work. In a future world of more resources, perhaps that will become possible. But we are not even close to being there yet, and this system is unsustainable as it takes from those who would advance society and gives to those who don't.
The entire point of a security net is to make sure those who are deserving have the ability to exercise their potential (Note: I am aware that the ultimate point is to allow the happiness of everyone. I mean in the sense of its function in a developing society.). Why work your hide off to drag along those who are just kicking back? This system encourages laziness, and after a while even those who naturally would work will stop because of their unjust load.
This problem with socialism has a solution: move towards the center. By arranging society so that those who work harder, smarter, more creatively, and more productively are rewarded, all of society will ultimately benefit from their advances. If a safety net is retained, and it should be, downward spirals can be prevented and a basic standard of living can be available to all.
However, problem 2 (Socialism restricts freedom of the individual.) is not so easily solved. In fact, I can't think of a solution at all. I believe this is socialism's fatal flaw, and it's basically the reason I am capitalist. I will address this in detail later on, when it flows more appropriately.
