Home Forums Principles of Economics Hiring People means extending my time?

  • Hiring People means extending my time?

    Posted by Claudio on February 24, 2021 at 02:52

    Going through lesson 3. On the concept of times, I’m wondering if in the end, when companies hire employees, what they are ultimately doing is a form of extending their time, buy buying other’s people’s time.

    It sounds like slavery in this way, but to me it make sense,

    what do you think?

    Thanks

    Francisco replied 4 days, 1 hour ago 4 Members · 3 Replies
  • 3 Replies
  • Gerald

    Member
    February 26, 2021 at 19:19

    If you don’t mind a very mechanistic perspective, maybe hiring people is more or less like acquiring capital machinery. Especially if you invest to train them.

  • Carlos

    Member
    October 23, 2022 at 16:34

    Hi.

    It cannot be slavery because the employee is voluntarily giving his time and effort to the employer. No coercion involved.

  • Francisco

    Member
    December 4, 2022 at 14:15

    I think both: hired sell their capacity to transform inputs in a higher value output; time & knowledge & strength (some professions) are the variables intrinsic to the transformation process. Yes you extend “time” but also “knowledge” & “force” to the organization, but mainly capaciy to “transform” inputs in valuable outputs.

    But I disagree about “no coercion involved”; that depends on your level of expertise, and if you are a ” medium or low-level” your strength on that trade is irrisory, you have to accept the trade you like it or not.