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Work by the Nobel Prize-winning psychologist Daniel Kahneman suggests that, above a certain point, a higher wage delivers little in terms of personal wellbeing – although low pay is not good for anyone.
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("Class warfare!" the right shouts). So a recovery that boosts profits but not wages delivers the bulk of its benefits to a small, affluent minority.
And the factory boss, who had promised high wages, delivered only half of that on payday.
The striker's current agreement sees a significant percentage of his wages delivered on a pay-as-you-play basis.
However, the cost of living is still more than double the average rise in UK wages, delivering a real-terms pay cut for millions.
Brand representatives have privately admitted that higher wages deliver higher productivity and lower other costs such as absenteeism and employee turnover.
This cash supplement to wages, delivered in the form of a tax refund, was created during the Ford administration and has been gradually expanded under Republican and Democratic presidents.
A Business Department spokesman said it had made progress on low pay: "We have more people in work than ever before, taken 1.3 million people out of income tax altogether since 2015 and the national living wage has delivered the fastest pay rise for the lowest earners in 20 years". A separate report from think tank IPPR said inequality was growing in the UK with young people particularly affected.
But even at this late stage, the government must ensure that the national living wage can deliver an increase in people's take-home pay.
Surrounded at the White House by people who work for an hourly wage, Obama delivered remarks aimed largely at members of Congress who have ignored his call to raise the federal minimum wage from $7.25 an hour to $10.10.
They are part of the fast growing "gig economy" in which big companies, including Hermes, rely on increasing numbers of self-employed contractors, who are not subject to the national living wage, to deliver their core services.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com