Income being dependant on how hard we work instead of the type of work is a waste of resources though. The goal of economic systems is to allocate our limited resources to our unlimited desires as efficiently as possible.
Some usage of resources are more efficient than others. Capitalism says that peak efficiency can be reached by letting supply and demand dictate the price. Other systems have other methods.
Your proposed system values 1 hour of shoveling the same as 1 hour of moving ground with a specialized machine, which makes no sense since the latter produces much more value with the same amount of work. I’m also assuming that amount of work = hours spent doing that work, but how else would you measure it? Any other measuring system is as subjective as 1 hour of Taylor swift = 1800 hours of average american.
Income being dependant on how hard we work instead of the type of work is a waste of resources though. The goal of economic systems is to allocate our limited resources to our unlimited desires as efficiently as possible.
Some usage of resources are more efficient than others. Capitalism says that peak efficiency can be reached by letting supply and demand dictate the price. Other systems have other methods.
Your proposed system values 1 hour of shoveling the same as 1 hour of moving ground with a specialized machine, which makes no sense since the latter produces much more value with the same amount of work. I’m also assuming that amount of work = hours spent doing that work, but how else would you measure it? Any other measuring system is as subjective as 1 hour of Taylor swift = 1800 hours of average american.