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> As someone trained in economics you should already be aware that everyone chilling isn’t a stable equilibrium. Wow TIL. > As you can see, the less everyone
by ianleeclark 7y ago
> As someone trained in economics you should already be aware that everyone chilling isn’t a stable equilibrium.
Wow TIL.
> As you can see, the less everyone else works, the more value your extra work is.
It's surprising someone like yourself subscribes to the Labor Theory of Value.
- mruts 7y agoLTV is a fundamentally classical liberal idea, so it really shouldn't be that surprising. Even so, the supply and demand model offers a much more coherent vision of prices in the marketplace. As such, we can view working more than anyone else in supply and demand terms. People who produce the most are always in high demand, and the less of them there are, the more value a high productivity individual provides.