Q: The demand for security against 'diminutions of income' (Hayek uses this term a lot. It's fancy words for pay cut.) Hayek says, "This demand for security is thus another form of the demand for a just remuneration -- a remuneration commensurate with the subjective merits and not with the objective merits of a man's efforts. Why must the remuneration be commensurate with the subjective rather than the objective?
A: Correct me if I'm wrong, but I see subjective as being a relative type of judgment while objective doesn't take other factors into account. Subjective sees a worker and understands, he's got a wife and seven kids, give him some time off and he'll be more relaxed for work. Objective doesn't see any factors, and instead sees a slacking worker who shouldn't receive a certain remuneration. With these definitions, remuneration, or pay, must be commensurate with, or based off of, the subjective because, "remuneration in these trades should correspond to [the worker's] usefulness to the other members of society. (135)
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