3 ms·
Yeah, I think this speaks to a much broader problem with how we attribute value in our society. Monetary value has no bearing on actual value. For example, a s
by what_is_orcas 5y ago
Yeah, I think this speaks to a much broader problem with how we attribute value in our society.
Monetary value has no bearing on actual value. For example, a smartphone is only $1000 because some people were paid $0 to produce it. Did those people not produce value? Take a fast food hamburger, it only costs $1 because it's not real meat (mostly), and the person who heated it up is being paid a wage with which they cannot afford reasonable housing and healthy food.
- sokoloff 5y agoMonetary value is the value to the business, though. If Pat can only serve enough customers to create $10 in value (above COGS) that customers are willing to pay for, a business can't pay Pat $15 for that work on a sustainable basis.