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The deadweight loss from not treating wages as market prices would be enormous. 45% of GDP is wages. Unless you don't understand the power of markets or pricin
by abigail95 4y ago
The deadweight loss from not treating wages as market prices would be enormous.
45% of GDP is wages. Unless you don't understand the power of markets or pricing systems, you would not suggest this.
There are a lot of people, including Uber drivers who would fight for the ability to pick and choose what jobs they work for and at what price.
- whateveracct 4y agoWorkers already have rights. What do you think the deadweight loss is from those? Should we get rid of them to boost GDP? Of course we won't have optimized GDP if we give people rights. Acting like maximizing GDP is an unarguable goal is so HN.