Home › Forums › Financial Markets/Economics › What is “work” and how do we value it?
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March 9, 2010 at 12:20 AM #523932March 9, 2010 at 5:26 AM #523034
Arraya
ParticipantIn physics work is the amount of energy transferred a distance by a force and is measured in joules and other units. Work equals force times distance or ΔEnergy = Work. In human terms, it’s valued in dollars within the confines of a market and currency system by a price point. Put another way, we make it up as we go along because dollars and price points mean practically nothing to the physical world except claims to it.
Ironically, today people that do the least physical work get the most claims in human terms (dollars) to physical work which gives you access to goods and services which take physical work and energy to make.
On top of that, we have immense human claims(debt measured in dollars) to physical work that will never get paid back because of lack of physical energy, which is the precursor to real world work.
Basically, we are confused on a mass scale because of our man made value system.
March 9, 2010 at 5:26 AM #523176ParticipantIn physics work is the amount of energy transferred a distance by a force and is measured in joules and other units. Work equals force times distance or ΔEnergy = Work. In human terms, it’s valued in dollars within the confines of a market and currency system by a price point. Put another way, we make it up as we go along because dollars and price points mean practically nothing to the physical world except claims to it.
Ironically, today people that do the least physical work get the most claims in human terms (dollars) to physical work which gives you access to goods and services which take physical work and energy to make.
On top of that, we have immense human claims(debt measured in dollars) to physical work that will never get paid back because of lack of physical energy, which is the precursor to real world work.
Basically, we are confused on a mass scale because of our man made value system.
March 9, 2010 at 5:26 AM #523614ParticipantIn physics work is the amount of energy transferred a distance by a force and is measured in joules and other units. Work equals force times distance or ΔEnergy = Work. In human terms, it’s valued in dollars within the confines of a market and currency system by a price point. Put another way, we make it up as we go along because dollars and price points mean practically nothing to the physical world except claims to it.
Ironically, today people that do the least physical work get the most claims in human terms (dollars) to physical work which gives you access to goods and services which take physical work and energy to make.
On top of that, we have immense human claims(debt measured in dollars) to physical work that will never get paid back because of lack of physical energy, which is the precursor to real world work.
Basically, we are confused on a mass scale because of our man made value system.
March 9, 2010 at 5:26 AM #523709ParticipantIn physics work is the amount of energy transferred a distance by a force and is measured in joules and other units. Work equals force times distance or ΔEnergy = Work. In human terms, it’s valued in dollars within the confines of a market and currency system by a price point. Put another way, we make it up as we go along because dollars and price points mean practically nothing to the physical world except claims to it.
Ironically, today people that do the least physical work get the most claims in human terms (dollars) to physical work which gives you access to goods and services which take physical work and energy to make.
On top of that, we have immense human claims(debt measured in dollars) to physical work that will never get paid back because of lack of physical energy, which is the precursor to real world work.
Basically, we are confused on a mass scale because of our man made value system.
March 9, 2010 at 5:26 AM #523967ParticipantIn physics work is the amount of energy transferred a distance by a force and is measured in joules and other units. Work equals force times distance or ΔEnergy = Work. In human terms, it’s valued in dollars within the confines of a market and currency system by a price point. Put another way, we make it up as we go along because dollars and price points mean practically nothing to the physical world except claims to it.
Ironically, today people that do the least physical work get the most claims in human terms (dollars) to physical work which gives you access to goods and services which take physical work and energy to make.
On top of that, we have immense human claims(debt measured in dollars) to physical work that will never get paid back because of lack of physical energy, which is the precursor to real world work.
Basically, we are confused on a mass scale because of our man made value system.
March 9, 2010 at 8:25 AM #523144CDMA ENG
ParticipantWant better paying jobs…
Have less kids…
Want cheaper housing…
Have less kids…
Cheaper gasoline…
Have less kids…
Simply there are too many people chasing to few resources…
A negative world population growth would do wonders for all of this…
Fortunately we are propably hitting the top of the (Hubbert ?) curve for pupulation growth.
Automation has destroyed the need for mass number of people.
CE
P.S. I am not saying that you have to stop “practicing” making kids! 😛
March 9, 2010 at 8:25 AM #523283ParticipantWant better paying jobs…
Have less kids…
Want cheaper housing…
Have less kids…
Cheaper gasoline…
Have less kids…
Simply there are too many people chasing to few resources…
A negative world population growth would do wonders for all of this…
Fortunately we are propably hitting the top of the (Hubbert ?) curve for pupulation growth.
Automation has destroyed the need for mass number of people.
CE
P.S. I am not saying that you have to stop “practicing” making kids! 😛
March 9, 2010 at 8:25 AM #523725ParticipantWant better paying jobs…
Have less kids…
Want cheaper housing…
Have less kids…
Cheaper gasoline…
Have less kids…
Simply there are too many people chasing to few resources…
A negative world population growth would do wonders for all of this…
Fortunately we are propably hitting the top of the (Hubbert ?) curve for pupulation growth.
Automation has destroyed the need for mass number of people.
CE
P.S. I am not saying that you have to stop “practicing” making kids! 😛
March 9, 2010 at 8:25 AM #523819ParticipantWant better paying jobs…
Have less kids…
Want cheaper housing…
Have less kids…
Cheaper gasoline…
Have less kids…
Simply there are too many people chasing to few resources…
A negative world population growth would do wonders for all of this…
Fortunately we are propably hitting the top of the (Hubbert ?) curve for pupulation growth.
Automation has destroyed the need for mass number of people.
CE
P.S. I am not saying that you have to stop “practicing” making kids! 😛
March 9, 2010 at 8:25 AM #524077ParticipantWant better paying jobs…
Have less kids…
Want cheaper housing…
Have less kids…
Cheaper gasoline…
Have less kids…
Simply there are too many people chasing to few resources…
A negative world population growth would do wonders for all of this…
Fortunately we are propably hitting the top of the (Hubbert ?) curve for pupulation growth.
Automation has destroyed the need for mass number of people.
CE
P.S. I am not saying that you have to stop “practicing” making kids! 😛
March 9, 2010 at 9:26 AM #523211sdduuuude
Participant[quote=Eugene][quote=sdduuuude]
Maybe in China, because jobs may actually start coming back here. When unemployment benefits run out, there’ll be lots of people willing to work for less than the current minimum wage.[/quote]It’s more complicated than that. You have to think about aggregate demand and exchange rates (particularly the USD/CNY exchange rate).
To put it simply: any attempt to bring back manufacturing/exporting jobs by cutting the minimum wage will be met by the Chinese government with an adjustment of USD/CNY to make sure that Chinese stuff is still cheaper.[/quote]
Not a bad point. That doesn’t necessarily hurt us, though, as we buy so much of that stuff. Plus, devaluing their currency puts pressure on them in other ways. They can’t do it ad-infinitum.
March 9, 2010 at 9:26 AM #523348Participant[quote=Eugene][quote=sdduuuude]
Maybe in China, because jobs may actually start coming back here. When unemployment benefits run out, there’ll be lots of people willing to work for less than the current minimum wage.[/quote]It’s more complicated than that. You have to think about aggregate demand and exchange rates (particularly the USD/CNY exchange rate).
To put it simply: any attempt to bring back manufacturing/exporting jobs by cutting the minimum wage will be met by the Chinese government with an adjustment of USD/CNY to make sure that Chinese stuff is still cheaper.[/quote]
Not a bad point. That doesn’t necessarily hurt us, though, as we buy so much of that stuff. Plus, devaluing their currency puts pressure on them in other ways. They can’t do it ad-infinitum.
March 9, 2010 at 9:26 AM #523790Participant[quote=Eugene][quote=sdduuuude]
Maybe in China, because jobs may actually start coming back here. When unemployment benefits run out, there’ll be lots of people willing to work for less than the current minimum wage.[/quote]It’s more complicated than that. You have to think about aggregate demand and exchange rates (particularly the USD/CNY exchange rate).
To put it simply: any attempt to bring back manufacturing/exporting jobs by cutting the minimum wage will be met by the Chinese government with an adjustment of USD/CNY to make sure that Chinese stuff is still cheaper.[/quote]
Not a bad point. That doesn’t necessarily hurt us, though, as we buy so much of that stuff. Plus, devaluing their currency puts pressure on them in other ways. They can’t do it ad-infinitum.
March 9, 2010 at 9:26 AM #523884Participant[quote=Eugene][quote=sdduuuude]
Maybe in China, because jobs may actually start coming back here. When unemployment benefits run out, there’ll be lots of people willing to work for less than the current minimum wage.[/quote]It’s more complicated than that. You have to think about aggregate demand and exchange rates (particularly the USD/CNY exchange rate).
To put it simply: any attempt to bring back manufacturing/exporting jobs by cutting the minimum wage will be met by the Chinese government with an adjustment of USD/CNY to make sure that Chinese stuff is still cheaper.[/quote]
Not a bad point. That doesn’t necessarily hurt us, though, as we buy so much of that stuff. Plus, devaluing their currency puts pressure on them in other ways. They can’t do it ad-infinitum.
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