This does not weaken your main thesis, but it might add some nuance—there are definitely times when you’re marginal wage greatly exceeds your mean wage. For example, one time I spent two days earning $295/hr. …I also think there was one time I changed something on my tax forms that saved me $30/mo and only took a minute, so—six months later—that was effectively $10800/hr.
Peter, I don’t think it makes a ton of sense to count those as “wages” per se, since they’re not scalable, repeatable, knowable a priori, or even (often) reproducible between people.
In fact, I’m not even sure they’re marginal. For instance, nobody thinks “I think I shouldn’t donate a kidney because I could otherwise spend that sick leave changing things on my tax forms and earn millions of dollars.”
This does not weaken your main thesis, but it might add some nuance—there are definitely times when you’re marginal wage greatly exceeds your mean wage. For example, one time I spent two days earning $295/hr. …I also think there was one time I changed something on my tax forms that saved me $30/mo and only took a minute, so—six months later—that was effectively $10800/hr.
Peter, I don’t think it makes a ton of sense to count those as “wages” per se, since they’re not scalable, repeatable, knowable a priori, or even (often) reproducible between people.
In fact, I’m not even sure they’re marginal. For instance, nobody thinks “I think I shouldn’t donate a kidney because I could otherwise spend that sick leave changing things on my tax forms and earn millions of dollars.”