Value and Exchange

How many hours a job requires depends on the nature of the work. In other words, work is highly heterogeneous.

Wages spring directly from, and are proportional to, the degree in which a job creates wealth by helping to satisfy an unmet need.

Jeff Bezos is now rivaling Bill Gates for the richest man in the world title, but only after decades of making everybody else a little bit richer first.

When they ignore basic economics, special interest groups sacrifice the well-being of their future members in exchange for short-term gains.