4 ms·
You left out “at the market clearing price”, then described a scenario where the supply of labor increases and the price drops, proving my exact point.
by alex43578 7mo ago
You left out “at the market clearing price”, then described a scenario where the supply of labor increases and the price drops, proving my exact point.
- laserlight 7mo ago“Worth” and “at the market clearing price” are different concepts, which was my point. The job doesn't pay what it's worth, it pays the market price, which is determined by market dynamics, not how much people value it.