4 ms·
This is just, in an economic sense, another application of comparative advantage. If you can get paid more than your childcare costs, it's an economic loss not
by adw 3y ago
This is just, in an economic sense, another application of comparative advantage. If you can get paid more than your childcare costs, it's an economic loss not to do exactly that. You get what you measure.
- MichaelZuo 3y agoHow so? Positive economic and negative economic externalities are too complex to factor in, at least of what I've seen. So the net balance seems ambiguous.
- adw 3y agoWe're agreeing. The issue is that what I've said is true _as defined_ (the value of work is what you can get paid for it; if hiring someone to do something costs X, and you can earn Y>X doing something else, then it's a deadweight loss of Y-X in economic terms to do X yourself instead), and you're pointing out that the definition of the metric has holes (which is true for all metrics). The consequence of management-to-the-metric follows.