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When it comes down to the basics, capital is the fixed cost of doing business and labor is the variable cost which firms must minimize to take home the most pro
by norea-armozel 10y ago
When it comes down to the basics, capital is the fixed cost of doing business and labor is the variable cost which firms must minimize to take home the most profit. And that's something you can't change if you want to continue to use capitalism as your template for a market economy. If there's any lesson that's about to be taught in the coming decade it's the fact that the economy must change in how distribution is handled. If people don't learn that lesson then we're doomed to devolve our society back to something akin to feudalism or worse.