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> how much you earn is based on how much value you provide define value and define to whom.
by camus2 9y ago
> how much you earn is based on how much value you provide
define value and define to whom.
- AnimalMuppet 9y agoValue? What someone is willing to pay. To whom? To whomever is willing to pay for it. That's the way value is decided in a free market economy.
- icebraining 9y agoNope. Value and cost can be completely different. The gap is often called "consumer surplus", though of course the consumer may be an employer. And since the labour market has more competition that almost any other, the gap can be quite wide.
- aianus 9y agoThe value provided is the ceiling on the cost (barring various inefficiencies like the principal-agent problem). They're not unrelated.