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> Then by definition, that’s what their time is worth. Only if the market for animation is efficient.
by munificent 3y ago
> Then by definition, that’s what their time is worth.
Only if the market for animation is efficient.
- chii 3y agoIf it wasn't efficient, it is because some participants in the market (namely the animators) aren't choosing to maximize their economic utility by doing a different (higher paid) job.
- munificent 3y agoOr because: * Switching costs for changing careers are high. * Collusion between employers. * Collusion between employees. * Products being exchanged are not commoditized. "Free markets" work great for determining prices for easily manufactured commodity products like toilet paper. They work way less great for basically everything else. Employing someone to create artwork is just about as far from an efficient market as I can imagine.