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If every transaction was one-sided than it doesn't matter whether you are an employee or entrepreneur. Trade happens because it's mutually beneficial.
by gowld 3y ago
If every transaction was one-sided than it doesn't matter whether you are an employee or entrepreneur.
Trade happens because it's mutually beneficial.
- bdw5204 3y agoI never implied that transactions are one-sided. Accepting employment is beneficial to the employee, in our current economy. If you attempt to start your own business without sufficient capital (in the form of savings, outside investment or loans), you will go bankrupt before you can turn a profit because it costs money to live and because there are startup costs for a new business that must be paid before you turn a profit. But if you accept employment at the market rate (which is always less than the amount of wealth your labor creates or you probably won't be able to find an employer), you are typically paid within a few weeks with few or no upfront costs which matters if you aren't already financially independent.