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econoclast

(543 posts)

14. Think it through ...

Reply to sulphurdunn (Reply #7)

Wed Jan 16, 2013, 01:43 PM

Jan 2013

You said
"The inventor is only entitled to take a profit from the sale of the nail gun. He certainly isn't entitled to a direct share of the economic value added to society by building a house because he invented the nail gun "

Right. Almost He gets the profit on EVERY nail gun ..... And sells tons of them!

Add it up and the profit from nail guns gets close to the value of the increased productivity. The Invisible Hand at work!

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19 replies

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Highlight:

Our Economic Pickle: why we must make wages increase to match productivity increases. [View all] eridani Jan 2013 OP

Precisely Sherman A1 Jan 2013 #1

But WHY did productivity go up? econoclast Jan 2013 #2

Brilliant. Let's have fewer and fewer people making more and more stuff eridani Jan 2013 #3

Why? Recursion Jan 2013 #4

Indeed. If all the money is concentrated at the top-- eridani Jan 2013 #19

So you're saying that innovators should Theyletmeeatcake2 Jan 2013 #5

Wages are supposed to be tied to the value of what that worker produces jeff47 Jan 2013 #6

Actually not econoclast Jan 2013 #12

And the reduction in labor means you can pay the remaining workers more jeff47 Jan 2013 #16

Coupl'a points... econoclast Jan 2013 #17

Couple'a responses jeff47 Jan 2013 #18

Wait a minute. sulphurdunn Jan 2013 #7

Think it through ... econoclast Jan 2013 #14

not just the inventors bigapple1963 Jan 2013 #8

Your argument fails in its second sentence 1-Old-Man Jan 2013 #9

If you wish to market nail guns in that manner then by all means please proceed Fumesucker Jan 2013 #11

Um ..... Isn't that Rent-a-center econoclast Jan 2013 #13

But the inventor/developer only get paid once, Rent A Center buys the things they rent out Fumesucker Jan 2013 #15

FOX NEWS: Unions are of the DEBBILL Tsiyu Jan 2013 #10