To oversimplify, there's two ways of pricing things: what the market will pay, or taking the cost to produce and adding a markup.
We price hours of work by the first method, but I started wondering what it would look like if we used the second.
For both a CEO and a janitor the cost of one hour of employment is one hour of their life. So from that perspective, we should be paying everyone the same.
I can't think of how to make an economic system work based on that, but it was a curious thought.
We price hours of work by the first method, but I started wondering what it would look like if we used the second.
For both a CEO and a janitor the cost of one hour of employment is one hour of their life. So from that perspective, we should be paying everyone the same.
I can't think of how to make an economic system work based on that, but it was a curious thought.