danielpalos
Diamond Member
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- Banned
- #521
Yes, it does. And, it is why firms pay the cost they do for labor.That’s literally what I did in the explaination I posted after I wrote “almost...”Almost... it may have been that way in the early days of our country but after decades of abuses to workers by the business owners the government decided to step in an require certain standards to be met. Had capitalism stayed fair and not abused their power perhaps there wouldn’t have been a need for regulations but alas, money leads to greed and greed leads to power and power can lead to abuses to those who are not in power.Who determines what the value of labor is?
The buyer and the seller.
Almost...
Tell me what additional determinant I missed.
A government regulation does not determine the value of labor.