``I must give him his due. He has considerably cretinized me.'' Lautréamont

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Wednesday, December 13, 2006

Getting What We Pay For (NYT)

economic idiots!

you get more money from doing something somebody wants enough to pay more for

your choice of job is the first thing to consider, not how well you do it.

both you and the buyer of your stuff need to profit at the same time, which means both of you must disagree about the value of your product, the buyer valuing it more than you do.

that's why there's economic specialization to professions.

each voluntary transaction then raises the standard of living of the nation, and that's why you want an economy and voluntary transactions.

not some stupid idea of keeping people off the welfare rolls, or paying them justly.

adapt or die.

the left wants to wind up more like the soviet union.

The price of an increase in salary should be the same for lawmakers as it is for everybody else: when you do the job well, you deserve more money.


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