Alan's theory...
Why do people work??? For various reasons???
"I need a new handphone"
"I want to achieve financial freedom"
"I want to provide a better life for my loved ones"
"I need a bigger flat/condo/bungalow"
"I don't want to eat rice everyday"
Of course, people work for various reasons, so as to provide specialised services in return for an income. SOme people don't like to grow rice, and some loves to grow rice. Some need a handphone while others don't. It's all thanks to Economics that we sometimes neglect the 2 most important reasons of working...
First is of course, the need to work, because you need to survive...On foood...
Second, perhaps is you have already fall in love with your work, which isn't really the theory in the standard model, which states that working provides disutility.
But because of the evolution of economics, we are now able to specialise, and not only work to produce food, so as to consume food. As the saying goes, the economics professor, work for food, by giving economics lectures.
My takeaway here is... No matter how specialised we are, we are still dependent on food and energy. And no matter what you are doing, we cant run away from the fact that we do need food to survive. Perhaps one day, Economics will fail, and we might return to the days of one working for the need of survival. Will we? We might be... Considering the meagre incomes of food producers world wide, and the obsession for education to beat the poverty trap, we might just be about to experience a form of revolution or uprisng from the food producers, if things continue to be this bad for the next few centuries. A pity, i wont be able to observe this phenomenon.
This fails on certain conditions...
1. The Government is benevolent to recognise this...
2. Technological improvements such that producing food is mass automated and taken out of humans hands. But that is not going to work. We are going to work for a dictator instead.
3. Finally, There is finally increasing marginal utility from producing food. The only way we should be exploring in the future, in my opinion...
"I need a new handphone"
"I want to achieve financial freedom"
"I want to provide a better life for my loved ones"
"I need a bigger flat/condo/bungalow"
"I don't want to eat rice everyday"
Of course, people work for various reasons, so as to provide specialised services in return for an income. SOme people don't like to grow rice, and some loves to grow rice. Some need a handphone while others don't. It's all thanks to Economics that we sometimes neglect the 2 most important reasons of working...
First is of course, the need to work, because you need to survive...On foood...
Second, perhaps is you have already fall in love with your work, which isn't really the theory in the standard model, which states that working provides disutility.
But because of the evolution of economics, we are now able to specialise, and not only work to produce food, so as to consume food. As the saying goes, the economics professor, work for food, by giving economics lectures.
My takeaway here is... No matter how specialised we are, we are still dependent on food and energy. And no matter what you are doing, we cant run away from the fact that we do need food to survive. Perhaps one day, Economics will fail, and we might return to the days of one working for the need of survival. Will we? We might be... Considering the meagre incomes of food producers world wide, and the obsession for education to beat the poverty trap, we might just be about to experience a form of revolution or uprisng from the food producers, if things continue to be this bad for the next few centuries. A pity, i wont be able to observe this phenomenon.
This fails on certain conditions...
1. The Government is benevolent to recognise this...
2. Technological improvements such that producing food is mass automated and taken out of humans hands. But that is not going to work. We are going to work for a dictator instead.
3. Finally, There is finally increasing marginal utility from producing food. The only way we should be exploring in the future, in my opinion...
posted by xtra_09 @ 10:39 AM
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