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“ Every (legal) job adds value, and if you slack off or don’t deploy your human capital and live up to your potential, you’re stealing societal wealth from the

“ Every (legal) job adds value, and if you slack off or don’t deploy your human capital and live up to your potential, you’re stealing societal wealth from the rest of us. That’s selfish.” No it is not selfish as long as the contract is measured against output. If a factory increases efficiency resulting in idling of the machines for 2 hours thus decreasing costs, yet at the same time keep the prices of its output same - that would never ever considered stealing. Then why is the writer considering an individuals skill and experience increasing their efficiency and producing the same output in less time as stealing?? The time the individual saves is upto them to spend any way they wish including to slack off or take a nap. The problem is that management science has failed to invent the right metrics of productivity.

q-big 4y ago
> If a factory increases efficiency resulting in idling of the machines for 2 hours thus decreasing costs, yet at the same time keep the prices of its output same - that would never ever considered stealing. I disagree: the shareholders of the company clearly would consider it to be stealing if the machines were idling for the mentioned 2 hours (i.e. they are not used to produce more money to the shareholders) if there does not exist a good economic reason for this decision (e.g. the downtime of the machines is used for better maintenance of them making the production process more reliable; not spilling the market with the products enables the company to demand higher prices for the product (artificial shortage)).
- la64710 4y ago
  Well as another shareholder I also wouldn’t mind with idling machines , because I am happy with the current production and profit and I am also happy that my company is not generating unnecessary pollution for unnecessary profit (and as you pointed out the marginal profit decreases with increased supply). I like the world I live in to be nice and safe for my children. Little bit long term point of view :)
  - q-big 4y ago
    But this is a minority view among investors.
    - la64710 4y ago
      Most shareholders leave the demand and supply planning activity to the companies themselves.They will not consider idling of machines on the factory floor as stealing.

q-big 4y ago

> If a factory increases efficiency resulting in idling of the machines for 2 hours thus decreasing costs, yet at the same time keep the prices of its output same - that would never ever considered stealing. I disagree: the shareholders of the company clearly would consider it to be stealing if the machines were idling for the mentioned 2 hours (i.e. they are not used to produce more money to the shareholders) if there does not exist a good economic reason for this decision (e.g. the downtime of the machines is used for better maintenance of them making the production process more reliable; not spilling the market with the products enables the company to demand higher prices for the product (artificial shortage)).

la64710 4y ago
Well as another shareholder I also wouldn’t mind with idling machines , because I am happy with the current production and profit and I am also happy that my company is not generating unnecessary pollution for unnecessary profit (and as you pointed out the marginal profit decreases with increased supply). I like the world I live in to be nice and safe for my children. Little bit long term point of view :)
- q-big 4y ago
  But this is a minority view among investors.
  - la64710 4y ago
    Most shareholders leave the demand and supply planning activity to the companies themselves.They will not consider idling of machines on the factory floor as stealing.