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0 pointsorthecreedence2y ago0 comments

> What's the objective cost of one hour of work painting a house?

You answered your own question. It cost one hour of house-painting labor. You have an action and a measurable duration. It doesn't get much more objective. How much you or someone values that labor is subjective, but the labor itself objectively happened.

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6 comments · 3 top-level

goatlover2y ago· 2 in thread

And if I want you to paint my house, what does it cost me? The objective cost doesn't matter, what matters is what others are willing to exchange for it. I could spend ten hours of back-breaking effort digging a ditch, but if nobody wants a ditch, then it has no value. And if it's just for me, that's not economic activity. Economics involves exchanging goods and services.

orthecreedenceOP2y ago

> The objective cost doesn't matter

How could anybody run a business if they don't know what it costs to make something? How is stating something so incredibly obvious and simple so difficult for you to understand?

Bank: What's your business plan?

Loan applicant: I don't need one! Costs are subjective lol!!1

goatlover2y ago

So explain what it costs a business to make something in non-monetary terms. Will the bank be loaning them painting hours?

jiofj2y ago· 1 in thread

This could be the case before the invention of currency.

What about the invention of currency negates it?

mercenario2y ago

How do you compare the value of these things with other things? In capitalism that is the role of price system.

How 1 hour of house painting compares to 1 hour of dog walking, with 1 hour of a neurosurgeon, 1 hour of dish washing, of 1 hour of playing football, etc?

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