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Forum Post: Economic Utility vs Monetary Compensation- Thoughts?

Posted 2 years ago on Dec. 14, 2011, 5:49 p.m. EST by Vykan12 (33)
This content is user submitted and not an official statement

Here's something I took a few hours to write:

http://pastebin.com/ukDegb9g

It brings up one of my biggest qualms with capitalism: The monetary compensation people get is often grossly mis-representative of the economic utility they provide. I am open to criticism, tell me what you think.

5 Comments

5 Comments


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[-] 1 points by beautifulworld (21297) 2 years ago

People need to be more aware of what their labor is worth.

[-] 1 points by hidden (430) from Los Angeles, CA 2 years ago

You right. Monetary system cannot be based on economic utility.

There are more examples like music which has no economic utility except subjective opinions but is very valuable and important.

Trough I'm not sure what was the point you were trying to make?

[-] 1 points by Censored (138) 2 years ago

Subjective opinions get represented in economic value all the time. Your I-tunes wouldn't look like mine. What's good is subjective, but yet we both represented our utility in money.

How is something valuable if you'll give up nothing to have it? That's what money does, it facilitates giving something to get something.

[-] 1 points by hidden (430) from Los Angeles, CA 2 years ago

How valuable is a sun light and what had you give give up to get it?

We don't have to give up anything to get something.

[-] 1 points by Censored (138) 2 years ago

See what people pay for a place with windows and good natural light. See how many people pay to travel to beaches for the sun.

What you're missing too is that while sunlight has value, it's also available. When something has value, and it's not just given to you, you'll give something up to get it.

If things have worth, it really isn't too hard to observe in peoples' behavior.