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  Mostly summarized from Gregory Mankiw’s Principles of Economics, 5th Ed. PART 6 The Economics of Labor Markets Chapter 19 of 36 Earnings and Discrimination Section 15 of 15 … Chapter 19 Conclusion The theory of the labor market holds in competitive markets workers earn a wage equal to the value of their marginal contribution to the production of goods and services. There are many factors affecting the value of the marginal product. Firms pay more for workers who are more talented, diligent, experienced, and educated because these workers are more productive and add more to revenue and profits. The theory of the labor market explains why some workers earn higher wages than other workers. But it does not make a value judgment about whether the resulting distribution of income is equal, fair, or desirable. … ChatGPT: The Theory of the Labor Market – Summary Basic Concept The labor market is where workers supply labor and firms demand labor. Workers decide how much to work based on w...
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Scot and Fumiko pictures and information

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  Fumiko Scot's information: Weight at 165 pounds, got to 160 pounds five years ago and have recently been bouncing between 163 and 168. Common sense ways to lose and keep off weight are eat right and light and get lots of exercise. Main exercise is walking, do 1~2 miles most days. Over career worked as a salesman in the steelmaking, fasteners, and auto manufacturing industries, lots of travel in U.S., Canada, Mexico, and Japan. Have visited every U.S. city with a major league, MLB, NFL, NBA, NHL, sports team except Sacramento, have gotten as close as Travis Air Force Base. Often traveled on Sundays, much time on the road so could not eat right and get enough exercise so got heavy, up to 200 lbs. Was on commission and made enough to retire early, now eat right and light, and get enough exercise. Now am spending most time reading and writing. Our Wick branch goes back to the brother of owner of the Wick House at Morristown National Historical Park in Morristown New Jersey, and on ba...
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HAT Manifesto Part 1/3 - Rubric Cube - 250803 edit

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  “The world we see that seems so insane is the result of a belief system that is not working. To perceive the world differently, we must be willing to change our belief system, let the past slip away, expand our sense of now, and dissolve the fear in our minds.” - William James “All experience has shown mankind are more disposed to suffer, while evils are sufferable, than to right themselves by abolishing the forms to which they are accustomed.” - Thomas Jefferson “Wherever good fortune enters, envy lays siege and attacks it. And when it departs, sorrow and repentance remain behind.” - Leonardo da Vinci “Struggle is the indispensable accompaniment of progress. If men were entirely social, man would stagnate. A certain alloy of individualism and competition is required to make the human species survive and grow. Without qualities of an unsocial kind men might have led an Arcadian shepherd life in complete harmony, contentment, and mutual love. But in that case all their talents wou...
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