Applying Economic Principles To Software Engineering And Web Dev
Adam Smith defines stock as accumulated resources generating future revenue. Wages & profits inversely related: rising wages = decreasing profits. Interest rates reflect avg profit, indicating economic reality.
Hi there! I'm Shrijith Venkatrama, the founder of Hexmos. Right now, I’m building LiveAPI, a super-convenient tool that makes engineering life easier by creating awesome API docs from your code in minutes. While I work on LiveAPI, I’ve been diving into economic ideas and sharing what I learn. Adam Smith, widely regarded as the father of modern economics, provides a detailed perspective on the concept of "stock" and its role in society's wealth and economic dynamics. This article explores his interpretation of stock, the relationship between wages and profits, the challenges in calculating p...