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I think absolute ceilings and floors on income and wealth will be needed. The wealthy are basically black holes that destroys everything within reach, if given time. Preventing such singularities of excess will have to be through a system designed to give everyone UBI, while making jobs rewarding but with a fixed scope of wealth accumulation.
IMO, a system of classifying entire job classes, and giving them a fixed income rank, would make it harder for wage theft, hoarding, and corruption to happen. By making it so that everyone of a job class has a clear income regardless of location or hours, it will be easier to track who is unnaturally wealthy, thus their hoard can be more easily confiscated before it can do harm to society.
Also, through having fixed incomes, it might prevent inflation. Sellers will have to price according to income brackets, otherwise their goods cannot sell easily to a demographic. In the rankings that I proposed, a basic worker has $30k, while the highest earners get $60k after taxation. This essentially means that CEOs and other high-end careers are only double the value of a waiter's income. Goods will have to be priced accordingly, making it harder for inflation to take place.
I personally don't think it's healthy for a society to force a caste system like that. And I'm not really sure there's truth to the "if everyone gets paid the same then nobody will want to be a Dr" argument. People would still probably pursue more difficult work even without a profit incentive.
It isn't a caste thing. Typically, castes are all about locking people into a social strata forever. What I proposed includes education paying people for learning, which allows the students to be fully educated for the higher ranks of jobs, if they so choose. Also, people who work earn retirement pay at a 1:1 ratio of days worked - eventually, people get to quit working outright if they want, regardless of rank, simply because two or three decades of work is also fully paid retirement. People who quit working the high end jobs, coincidentally leave those jobs to other people.
In any case, there isn't a huge gulf of incomes in the proposed system. The real-world elite of our time has over a 1,000x the income of an entry wage worker. Merely double the income for the hardest professions doesn't even register in comparison. More importantly, the increased money for a high position is to reward the effort, risk, and knowledge needed to hold that position.
Over the next two centuries, I expect automation to make work into a leisure activity, rather than a necessity. Until utopia is obtained, however, we should try to reasonably reward people to work the more difficult jobs, simply out of pragmatic utility and humanity for society as a whole. By ensuring the pool of experts is large, we can spread thin the amount of hours each individual has to work, preventing burnout and allowing them all to live fulfilling lives.
It is a caste thing.
What happens when the majority decide they want more pay, pursue education, and oversaturate the good paying jobs?
Those are the conditions that led to STEM being completely oversaturated.
This beleif that a garbage man is somehow less important to society than doctors, is just capitalist propaganda...
ERK: Effort, Risk, Knowledge. We can have a body of researchers study each occupation, and assign it a rank according to what is required for the task. Provided the standards are objective - the amount of hours, the physical conditions a worker has to undergo, how much education is required to do a good job, and so forth are fairly consistent, we can fairly designate the rank of a job.
Garbage men don't require nearly as much training as a doctor, otherwise people die. In any case, a garbage man would likely be at the $60k rank, because it is harder than being a waiter. Lots of sitting and driving, with the odd garbage handling in person if something comes up. The biggest source of danger comes from crashes. Far as education goes, not much, I expect - mostly cartography of the route, scheduling, and so forth.
An immigrant worker would probably have their job class at $80k annual payout if they picked food. There is lots of exertion, sun, inclement weather, and so forth. The work itself isn't dangerous nor requires an education, it is simply exhausting. Provided that 4 or so hours of a six hour shift are done before a hour-long noon lunch, the danger of heat exhaustion from the sun can be mitigated, especially if workers are given hats, water, and 5 minute breaks for each hour to recuperate. Hazard pay can be in effect during significant levels of rain, and appropriate gear mandated for those conditions.
As to STEM being oversaturated, I think that is incorrect. Rather, it is because corporations are hyper-fixated on crushing blood out of a stone to maximize perceived profit. Everyone in every working profession has to work longer and are paid less, because the companies force that to be the case. By deliberately creating ghost jobs, using maladjusted interviews, coercion, and so on, companies can artificially force workers to come to the table to beg for scraps. If there was a 6-hour workday, mandated vacations, and other ethical standards that are enforced, companies would have to employ many more STEM students to fill out the daily roster.
Ok you have shown me you don't know what you are talking about and aren't interested in learning.