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Compensation is a representation of bargaining power. If anything, compensation for labor has an inverse relationship with actual value. Teachers get paid littl
by charlesu 6y ago
Compensation is a representation of bargaining power. If anything, compensation for labor has an inverse relationship with actual value. Teachers get paid little despite educating future generations, sanitation workers contribute more to the public health than doctors but make peanuts, and stay-at-home parents nurture children and are paid nothing at all. Bargaining power is not value of labor.
We are paid what can demand and not a penny more irrespective of our labor's actual value.
- WalterBright 6y ago> compensation for labor has an inverse relationship with actual value. Value is what people are willing to freely pay for it. Any other definition of it is subjective and fairly useless.
- charlesu 6y agoYou’re talking about price. Price is not value.
- WalterBright 6y agoThe value of something is price where the supply & demand curves cost.