production below its market value is actually 

Yet, the value James creates is limited relative to other uses of labor and capital. So much so that, economically speaking, James is not even engaged in production but 

Paying him a high wage, then, would require diverting resources away from 

 activities. In effect, this would mean asking others to subsidize James’s “production” that consumers have already overwhelmingly revealed to be of little value.

Politics_And_Law

econ

Can Every Job Pay a Living Wage?

0xbitcoiner

*this* was an interesting twist... **production below its market value is actually *consumption*:**

> Yet, the value James creates is limited relative to other uses of labor and capital. So much so that, economically speaking, James is not even engaged in production but [*consumption*](https://thedailyeconomy.org/article/when-production-isnt-production-and-prices-arent-prices/).

> Paying him a high wage, then, would require diverting resources away from *more valuable* activities. In effect, this would mean asking others to subsidize James’s “production” that consumers have already overwhelmingly revealed to be of little value.