7 ms·
>>I don't really believe that is all true. Grunt work is done for the requirement of survival. I mean the work of creating and expanding businesses, aka genera
by CryptoPunk 8y ago
>>I don't really believe that is all true. Grunt work is done for the requirement of survival.
I mean the work of creating and expanding businesses, aka generating capital.
If I put in work creating a new health food stand, and my competitors can easily see that I'm successful, and therefore worth copying, and then easily see who my suppliers are, how I do research on what items to add to my menu, then my competitive advantage diminishes significantly, and I will be less likely to do the work of creative entrepeneurship required to increase the diversity of goods/services offered on the market.
I recommend reading up on Paul Romer's work on the role of knowledge in productivity, and how mundane business development adds to it, which he won a Nobel Prize for:
http://pages.stern.nyu.edu/~promer/Endogenous.pdf http://pages.stern.nyu.edu/~promer/Endogenous.pdf