3 ms·
The labor is a small fixed cost. Depending on what is done with the labor the leverage is potentially infinite (eg. many internet business that earn a million o
by friedman23 4y ago
The labor is a small fixed cost. Depending on what is done with the labor the leverage is potentially infinite (eg. many internet business that earn a million or more per year for every employee they have hired).
Growth can happen by getting the same labor to do something more valuable (maybe building houses instead of chairs?)
- sdflhasjd 4y agoLabour is people, which need food and water.
- friedman23 4y agoI don't see the point of your statement. Economic growth can happen even if the population remains constant (or even shrinks but that would be a headwind to overall economic growth and at that point it might be more instructive to look at gdp per capita).
- deleted 4y ago[deleted]