I agree with your sentiment, but I think you're missing something important: it is possible (and, unfortunately, quite realistic) for a low-level programmer to be "negatively productive". For difficult problems, it may simply not be possible for someone without the required skill and experience to find a solution. Even for easy problems, though, it's possible that the solution found by a weak developer will in the long run cost more than the benefits it offers, for example, because they reduced the overall design quality of the system and later a stronger developer has to spend their valuable time fixing the design to clear the technical debt.

Ha, I hadn't thought about this aspect at all, thanks. But would you necessarily need to assume the pay should be directly proportional to performance? Perhaps earning double as much when you're 10x more effective is more reasonable, and then triple at 100x - say, a logarithmic scale? Also, productivity and hours spent are both only partially reflecting the total value someone brings.

Well, in any case, I was thinking about _some_ kind of system where your value would be expressed and not some irrelevant metric like age.