Breaking Down Price: Wage, Profit, And Rent In Modern Enterprise
Price = Wage + Profit + Rent. Simplified by Adam Smith in Wealth of Nations. Applied to modern examples like MacBook pricing: $1,000 = $400 (Wage) + $400 (Profit) + $200 (Rent)
I'm Shrijith Venkatrama, the founder of Hexmos. Presently, I am building LiveAPI, a super-convenient engineering productivity tool. LiveAPI processes your code repositories at scale and automatically produces beautiful API docs in minutes. As I build LiveAPI, I am also making an effort to learn about various economic matters & share it here with you. I am reading Adam Smith's - Wealth of Nations to understand economics better. I'd rather read someone like Smith, with the original words of original thinkers, rather than dry "summaries" or more hodge-podge collations of higher quality works. I...