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Yes! The market is the name of the system which sets the salary, but the name has no descriptive power. Just like the opening to the article: > I should have l
by klodolph 6y ago
Yes! The market is the name of the system which sets the salary, but the name has no descriptive power. Just like the opening to the article:
> I should have loved biology but I found it to be a lifeless recitation of names…
- fennecfoxen 6y ago"The market" is the name of a place where, once upon a time, you would go to buy things, and perhaps sell some things you made; stable and consistent prices would emerge without any particular rules about how prices for things should be set, or any particular enforcers of the price, but by the dynamics of the supply of the good and the demand for the good.