17 Dec
2003
17 Dec
'03
11:17 p.m.
Bart Croughs writes:
Clearly, wages are defined by supply and demand -- not by "capital investment".
When economists say that wages are determined by the amount of capital invested, they mean on a regional/national level, not on the level of individuals.
So, you are saying that if everyone in the country spent their life savings on building giant green pylons, the capital investment would drive up everyone's wages? Wow! In fact, we could borrow money from other countries to build more green pylons and drive up wages so fast we could pay off the resultant debt! Perry (PS Please stop posting these things -- you may kill everyone watching with laughter.)