Income = sales over time. Sales = price x quantity.
People with higher incomes sell more of what it wanted at higher prices over time.
Why?
Wages are prices. All prices adhere to the one, true infrangible law that governs all of trade, the Law of Prices. The Law of Prices holds the winning bids of purchase and sale in the face of what is on offer set the price.
Work is skills expressed through time put into property form, which another can acquire.
Those who earn more do so because what they do is wanted by more who have more buying power to secure the property on offer as work.
Work is skills expressed through time put into property form, which another can acquire.
Working is the capital of the one who works. Work expressed is the wealth created by the one who works.
Those who earn more do so because what they do is wanted by more who have more buying power to secure the property on offer as work.
Should all 6'8" forwards in the NBA have their legs cut permanently to the average height of 5'9" so average height guys can have a shot at an NBA career?
Should all persons with 130 IQs and above be given partial lobotomies until their IQ hits the American average of 99?
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