Comment: Labor is no different than cheese

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Labor is no different than cheese

The price should be determined by the market.

I've demonstrated mathematically elsewhere that the most profitable price to charge for a good can be estimated accurately as the sum of the cost of production (including labor) with the average value as determined by a mass of consumers. Thus, any overhead added to the process will be directly passed to the consumer.

As a result of the higher prices beyond the natural equilibrium, profits decrease which reduces the desire for entreprenuers to enter affected markets. An added effect occurs because when overhead is increased, marginal producers are pushed out of production. As a result, the gross number of jobs tends to decrease under the strain.

Both workers and consumers lose.

It would be wonderful if it worked as you desired. It's a nice dream that has become popular for that very reason, but unfortunately, it lacks when the rubber meets the road.